Tag archive: fiduciary duty

The “Tripartite” Relationship and an Insurers Right to Sue Panel Counsel

Summary: This article provides a brief overview of the “tripartite” relationship between an insurer, its insured, and panel counsel and the theories under which a direct action can be brought by the insurer against panel counsel for legal malpractice. The “tripartite” relationship refers to the relationship among an insurer, its insured and defense counsel retained…

When Things Go South: A Corporate Director’s or Officer’s Personal Liability to Third Parties for Corporate Misdeeds

Generally, corporate officers and directors do not have a special relationship of trust (i.e., a fiduciary relationship) with third persons or creditors transacting business with the corporation. Moreover, unless they sign in an individual capacity, corporate officers and directors who negotiate and execute a contract on behalf of the corporation are not personally accountable on…

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