Federal Deposit Insurance Corp. v. Sea Pines Company

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• directors mortgaged corporate assets for the benefit of the parent company, of which they were also directors
• “[W]hen the corporation becomes insolvent, the fiduciary duty of the directors shifts from the stockholders to the creditors.”
• “[W]hen the corporation becomes insolvent, the fiduciary duty of the directors shifts from the stockholders to the creditors.”
• “[W]hen the corporation becomes insolvent, the fiduciary duty of the directors shifts from the stockholders to the creditors.”

Source: CourtListener parenthetical corpus (CC0).