The Duty of Care and the Business Judgment Rule standard in American law and the Buen Hombre de Negocios standard in Uruguayan law
DOI:
https://doi.org/10.47274/DERUM/43.3Keywords:
Duty of Care, Business Judgment Rule, Standard good businessman, Liability of company directorsAbstract
This article proposes to analyze the regulation and application of the Duty of Care and the Business Judgment Rule in American Law in order to compare it with the Buen Hombre de Negocios standard in Uruguay. Also to discuss the applicability of American law criteria in Uruguayan law in the light of the draft reform of the Commercial Companies Act, and finally to propose a sort of "two-step test" at the court level for the review of the liability of company directors. The article will also study the divergences between the regime of judicial review and the conduct of company directors.
Downloads
References
Proyecto de Reforma de Ley de Sociedades Comerciales.
Allen, W. T., Jacobs, J. B. y Strine, L. E. Jr. (2002). Realigning The Standard Of Review Of Director Due Care With Delaware Public Policy: A Critique Of Van Gorkom And Its Progeny As A Standard Of Review Problem. Northwestern University Law Review, (96), (499- 466).
Casanova, M. (2013). Deberes fiduciarios de los administradores societarios. Montevideo, Uruguay: Fundación de Cultura Universitaria.
Cerisola, A. y Hernández, A. (1997). El test jurisprudencial de dos pasos para determinar la existencia de una rescisión abusiva. Anuario de Derecho Civil Uruguayo, (28), 708-717.
Eisenberg, M. A. (1993). The divergence of Standars of conduct and standards of review in corporate law. Fordham Law Review, (62), (437-468).
Eisenberg, M. A. (2004). The Duty Of Care in American Corporate Law. Law Institute For Law And Finance Johann Wolfgang Goethe-Universität (22), (1-46).
Ferrer Montenegro, A. y Rodríguez Mascardi, T. (1991). La noción buen hombre de negocios en la ley No 16.060. Anuario de Derecho Comercial, (5), 161-168.
Ferrer, L. G. (2009). Responsabilidad de los administradores societarios: con especial referencia al supuesto de insolvencia. Montevideo, Uruguay: La Ley.
Lyman, P. Q. J. (1999). Re thinking Judicial Review of Director Care. 24 J. Corp. L. (787), (788-833).
McMurray, M. M. (1987). An Historical Perspective on the Duty of Care, The Duty of Loyalty, and the Business Judgment Rule. Vanderbilt Law Review, (605), 605-627).
Olivera García, R. (2015). Responsabilidad del administrador societario, en Olivera García, R. (Ed.). Ley de sociedades comerciales estudios a los 25 años de su vigencia. Montevideo, Uruguay: La Ley.
Paz-Ares, C. (2003). La responsabilidad de los administradores como instrumento de gobierno corporativo. InDret, (162), (1-61).
Rimsky, S. (2016). Fideicomisos y seguros en Uruguay. La gestión fiduciaria, el buen hombre de negocios y la confianza. En Olivera Garcia, R. (Ed). Algunas proyecciones al respecto Realidad del Derecho Comercial: tensiones y sinergias en su práctica. (pp. 343-352). Montevideo, Uruguay: Fundación de Cultura Universitaria.
Valer, B. (2017). An Overview of Director Fiduciary Duties. Dorsey, (1-14).
Velasco, J. (2015). A Defense of the Corporate Law Duty of Care. 40 J. Corp. L. (64), (647-703).
Published
How to Cite
Issue
Section
License
Copyright (c) 2023 Igal Guertein Babic
This work is licensed under a Creative Commons Attribution 4.0 International License.