May A Board Give All The Corporate Assets To Charity?
By EsqSocial Corporation 13/05/21
Yesterday, I listed to a talk by Vice Chancellor J. Travis Laster of the Delaware Court of Chancery entitled "Purpose, Power, and Fiduciary Duty: Dimensions of Delaware's Corporate Law Regime". The webinar was presented by the University of Delaware's John L. Weinberg Center for Corporate Governance. Vice Chancellor Laster took a very deferential view of a board's decisions to donate corporate assets - applying a standard of rationality, not reasonableness. Notably, he did not reference the...
By: Allen Matkins