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Joseph M. McLaughlin, a partner at Simpson Thacher & Bartlett, reviews recent decisions holding that directors receiving full indemnification from one co-indemnitor cannot bring a contribution claim against another co-indemnitor, that an agreement purporting to allow directors to retain amounts advanced by the company to fund their unsuccessful indemnification suit was void and that if a corporation's certificate of incorporation and bylaws conflict on the scope of indemnification, the certificate controls.
August 09, 2007 at 12:00 AM
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