Chancery Court Confirms that Corporations Cannot Contract Out of the Duty of Loyalty | Practical Law

Chancery Court Confirms that Corporations Cannot Contract Out of the Duty of Loyalty | Practical Law

An update on the Delaware Chancery Court's opinion in Sutherland v. Sutherland holding that corporations cannot remove a director's fiduciary duty of loyalty through contract.

Chancery Court Confirms that Corporations Cannot Contract Out of the Duty of Loyalty

Practical Law Legal Update 7-385-5558 (Approx. 3 pages)

Chancery Court Confirms that Corporations Cannot Contract Out of the Duty of Loyalty

by PLC Corporate & Securities and PLC Finance
Published on 01 Apr 2009 • Delaware, USA (National/Federal)
An update on the Delaware Chancery Court's opinion in Sutherland v. Sutherland holding that corporations cannot remove a director's fiduciary duty of loyalty through contract.