eyeswideopen, does management have a duty to kill the company if...

eyeswideopen, does management have a duty to kill the company if any outcome that saves the company hurts the common shareholders? That seems to be the implication of your position.

I think most management's behave as if they have two separate duties: one is to the company itself, to ensure its continuity as a separate entity, and one is to the shareholders. Occasionally, what is needed to ensure the survival of the company hurts the common shareholder's interests. That's pretty much the place BBI management is today.

It's an interesting question, and maybe there is a lawyer in the house who can reflect on this?