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33 Litig. News 1 (2007-2008)

handle is hein.journals/lignws33 and id is 1 raw text is: Dd1ng Liberty ug lush ce (Ma o, Ilinois 60610 U SCTIONof LI 1IGATION AMEIRICAN BAR ASSOC IATION ATO 001I r8S9@ 4L~A $l HEN&C N I OI H$DE T IN recent year some federal courts, including the Third CircUit of the Chancery Court, which ridiculed deepening insolvn in caSes arising uader Pensylvania law and other courts that cy as a catchy term and rejected it as a cause of action sought to predict how Delaware courts would rule, recog- concluding: Even when a firm is insolvent, its directo nized an exception: When a corporation's life is artificially may, in the appropriate exercise of their business judgment prolonged by fraud or other wrongful conduct, its existence (Turn to page 6- Deepening hIsohe,