The Commodity Futures Trading Commission v. Weintraub et al., 1984, is a U.S Supreme Court case that revolved around the issue of attorney-client privilege in corporations undergoing bankruptcy proceedings. The court had to decide who held this privilege when a corporation was under the control of a trustee during bankruptcy - whether it was the management or the trustee. In its decision, the Supreme Court ruled that when a corporation goes into bankruptcy and is managed by trustees, these trustees hold attorney-client privileges for communications related to corporate matters. This means they can waive this right if necessary without requiring consent from previous management or shareholders. The ruling clarified an important aspect of corporate law regarding who controls legal rights and responsibilities during insolvency procedures.

In the dissenting opinion for Commodity Futures Trading Commission v. Weintraub et al., Justice White argued that a bankruptcy trustee does not have the authority to waive attorney-client privilege on behalf of a bankrupt corporation. He contended that this power should remain with the corporation's shareholders, as they are ultimately responsible for any liabilities incurred by their company and thus should retain control over its legal affairs. Furthermore, he expressed concern about potential conflicts of interest between trustees and creditors, who might use privileged information to pursue their own interests at the expense of shareholders'. Finally, he noted that allowing trustees such broad powers could discourage corporations from seeking legal advice in times of financial distress due to fear that their communications would later be disclosed.