Enforcing Shareholders’ Duties
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Enforcing Shareholders’ Duties

Edited by Hanne S. Birkmose and Konstantinos Sergakis

A heavily debated topic, the evolution of shareholders’ duties risks the transformation of the very concept of shareholder primacy, crucially associated with shareholder rights. Offering a distinctive and comprehensive examination of both current and forthcoming enforcement mechanisms in the area of shareholder duties, this timely book provides an exhaustive analysis of the many issues related to these mechanisms, and considers the ongoing challenges surrounding their implementation.
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Chapter 2: Legal and economic rationales for shareholder duties and their enforcement

Anita Anand and Christopher Puskas

Abstract

As shareholder activism influences corporate decision making more and more, the question of whether shareholders, particularly those with a controlling interest, should owe fiduciary duties to other shareholders has become an increasingly conspicuous one in corporate law. The law is certain that directors and senior managers owe a duty of loyalty to the corporation but it remains unsettled regarding duties between the shareholders themselves. This chapter focuses on the duties among shareholders inter se and considers when, if ever, such a fiduciary duty is appropriate.

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