Prof. Larry Ribstein just published a "must read" short article here on the Harvard Corporate Governance Blog with insightful commentary on the recent Delaware Supreme Court decision in North American Catholic  Educational Foundation, Inc. v. Gheewalla , summarized here on this blog.   Here is the good professor’s own summary of his post.

For anyone interested in the intersection of Delaware corporate law and the zone of insolvency, his analysis and the links he provides to related sources and writings on the topic, should be read by anyone who wants to know the latest thinking on the issues related to the duties of directors of insolvent companies and the rights of creditors against those directors. Coincidentally and parenthetically, I posted here earlier this week, an analysis by one of my bankruptcy partners, Dan Astin, on the contrast between recent federal court decisions in Delaware on the topic of  "deepening insolvency"  and the most recent Delaware Chancery Court decision on the issue.