Summary
Action against controlling shareholder and directors for breach of fiduciary duty, including allegations of excess compensation for the controlling shareholder.
Pereira v. Cogan
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See Also
Court Combines Benchmarking Studies to Determine Reasonable Compensation of Hybrid Executive
Two of the issues in this complex bankruptcy matter were: (1) whether Marshall Cogan was paid excessive compensation from Trace International Holdings Inc. and Trace Foam Sub Inc. (collectively “Trace”); and (2) whether Trace was insolvent so that the redemption of stock and the declaring of dividends were rendered illegal.