04/05/2007
Colorado Supreme Court Finds Narrow Duty to Corporate Creditors by Corporate Officer Resulting in Reversal of Aiding and Abetting Breach of Fiduciary Duty Verdict Against Attorneys
Hugh Alexander, et al. v. Glen Anstine, a U.S. Bankruptcy Trustee for Builders Home Warranty, Inc.___P.3d___, 2007 WL 509741 (Col. Sup. Ct. 2007)
Brief Summary
The Colorado Supreme Court held that lawyers who had assisted a corporation and its president in alleged breaches of duty owed to the corporation could not be held liable on an aiding and abetting theory absent proof that the lawyers had allegedly assisted the president in furthering his own interests as distinct from attempting to serve the interests of the corporation.
Hinshaws Lawyers for the ProfessionSM Alert can also be viewed at http://www.lawyeringlaw.com