Catastrophic Losses: Pursuing Recoveries from Viable Defendants
Although frequently lacking traditional defendant targets, disasters involving private property have generated numerous lawsuits. The most dramatic examples arise from the 9/11 World Trade Center (WTC) litigation.
July 1, 2012
Officers and directors generally owe their companies and shareholders a duty of diligence and due care. The law in most states ensures that reasonable and well-processed decisions that are made by business executives can be made with little fear of personal financial loss (?business judgment rule). However, in recent times, large disasters have caused some plaintiffs and officials to look beyond just the corporate entity to obtain relief.
Published in The Brief, Volume 41, Number 4, Summer 2012. © 2012 by the American Bar Association. Reproduced with permission. All rights reserved. This information or any portion thereof may not be copied or disseminated in any form or by any means or stored in an electronic database or retrieval system without the express written consent of the American Bar Association.
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