Recent Decision Highlights Potential Personal Liability of Hospital Directors Based on Breach of Fiduciary Duty -
In a recent case, a federal bankruptcy court in Michigan reviewed important questions involving breach of fiduciary duty and the application of the business judgment rule to both management and volunteer board members of a nonprofit hospital. In that case, the liquidating trust for bankrupt Cheboygan Memorial Hospital filed a lawsuit alleging negligence and/or breach of fiduciary duty by the former officers and directors of the hospital...
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