I attended the 2009 annual American Agricultural Law Association conference in Williamsburg, Virginia. The lunch speaker on September 25th was Tom Vilsack, the Secretary of Agriculture. He’s a good speaker: he measures his words carefully and is a smart guy. Mr. Vilsack spent a couple of hours with us and took questions at the end. …
Monthly Archives: September 2009
Mary Szto – Limited Liability Company Morality
This is part two of a discussion of an intriguing law review article on fiduciary duties as applied in the context of limited liability companies. The prior blog considered the theological roots cited by Ms. Szto. This part examines other roots for fiduciary duties. Ms. Szto starts again with a religious analysis. Says she, “Canon …
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Religious Roots for Fiduciary Duties
Legal commentators have differing opinions regarding the origin and background of fiduciary duties. A recent article by Mary Szto would seem to focus on the business side of things, as her article is entitled “Limited Liability Company Morality: Fiduciary Duties in Historical Context,” 23 Quinnipiac Law Review 61 (2004-2005). However, the author strikes a deep …
Hedge Fund Investment Does Not Give Rise to Claim Against Attorneys
In a June 2009 decision from New York’s highest court, the Court of Appeals held that attorneys for a hedge fund did not owe fiduciary duties to the investors. The hedge fund in question was structured as a limited partnership, and the investors were limited partners. When the investment turned sour, the investors sued, claiming …
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