But there's still such thing as a fiduciary duty to shareholders.
So long as there's value, I have a fiduciary duty to not give it away.
They have a fiduciary duty to not put their own interests first when setting it.
While its members may be local political figures, in their executive capacity they have fiduciary duties to the Nation as a whole.
Managers trying to buy their company still have a fiduciary duty to shareholders.
"Then they will have the fiduciary duty to determine how to distribute it further."
One way you can do that is to make very clear what specific fiduciary duties are required of board members.
The answer is, of course, that 'Parliament' never thought about the fiduciary duty at all.
In the process they have abandoned their most sacred fiduciary duty.
A fiduciary duty is the highest standard of care at either equity or law.
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