1. Corporate governance problems facing the energy sector

    Craig Florence and Randy Gordon, Gardere Wynne Sewell LLP It is a commonplace of corporate law that officers and directors owe fiduciary duties to the business entities they serve. Breaches of these duties are most often highlighted in the press when they lead to spectacular corporate failures on the order of Enron or WorldCom. But fiduciary duties do not exist solely to deter and redress massive instances of fraud; rather, as Justice Cardozo long ago held “[n]ot honesty alone, but the punctilio

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