In a corporate system based in part on the separation of ownership and control, the relationship between principals and agents is riddled with agency problems: Among them are potential conflicts of interest where agents may abuse their fiduciary position for their own benefit as opposed to the benefit of the principals to whom they are obligated.
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Bankruptcy Update
Supreme Court to Address Circuit Split Over 'Defalcation' Meaning
The Legal Intelligencer
November 16, 2012
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