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Magellan Petroleum Corporation Message Board

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  • ozlander Dec 14, 2010 5:51 PM Flag

    Did everyone note this?

    It looks like the new Corporate Counsel in Portland is probably really doing the heavy lifting. My guess.

    The real bottom line is that Corporate board members have a fiduciary responsibility to care for the financials and legal requirements of the corporation.

    They must act in good faith and a reasonable degree of care, and they must not have any conflicts of interest.

    In other words, the interests of the company and the shareholders must take precedence over personal interests of individual board members.

    The BOD answers to the shareholders and works for them. That is the theory, anyway. End of lecture.


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