News & Analysis as of

Board of Directors Chapter 11

Hogan Lovells

2023 Doing Business in the United States

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The U.S. is one of the easiest jurisdictions in the world in which to do business and continues to be the world’s top destination for foreign direct investment. Regulatory barriers are generally low, establishing a branch...more

Lowenstein Sandler LLP

A Lapse in Safety Can Lead to Lawsuits for Directors and Officers. Boeing’s Board Learned That Firsthand.

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Boeing's Board of Directors Settled a Caremark Claim Lawsuit with Shareholders for $225 Million Over the Crash of Two 737 Max Jetliners- Board members who neglect risk oversight, in turn, risk exposure to lawsuits via...more

Lowenstein Sandler LLP

When Chapter 11 Hits, D&O Claims Can Take the Unsecured Director Down

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Actions Against Directors, Officers Common After Chapter 11 Bulk-Asset Sales Leave Nothing to Recover- In the event of Chapter 11 Bankruptcy, creditors often look to recover funds by individually targeting directors or...more

Sheppard Mullin Richter & Hampton LLP

Seven Commandments for the Financially Distressed Company

Most restructuring professionals will tell you that there is no “typical” restructuring. That is absolutely true. Every financially distressed business is different and the character and direction of its restructuring will be...more

JAMS

[PODCAST] JAMS Neutrals Discuss the Use of Mediation in Bankruptcy Cases

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In this podcast, JAMS neutrals Judge Joan Feeney and Judge Phillip Shefferly share their thoughts on why mediation is a good tool to resolve bankruptcy disputes, provide listeners with a look into their own approaches to...more

Allen Matkins

In California, Not Every Merger Is A "Reorganization"

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Yesterday's post discussed the relevance of the maturity date of a debt security to the definition of a "sale-of-assets" reorganization under California's General Corporation Law.   The CGCL recognizes two other types of...more

White & Case LLP

Lessons from the trenches: Tips from a leasing company’s chapter 11

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Fixed-wing leasing companies should consider six tips for navigating a possible restructuring precipitated by the COVID-19 crisis. About a year ago, I completed the most exhausting marathon of my life serving as the chief...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2020 Insights

Despite political and economic uncertainties, markets and deal activity were resilient in 2019, and strong fundamentals remain in place heading into 2020. Companies continue to face a challenging litigation and enforcement...more

Akin Gump Strauss Hauer & Feld LLP

Top 10 Topics for Directors in 2020: Economic Downturn

Significant economic, regulatory and political uncertainties in 2020 should prompt board of directors members to evaluate, and take steps to mitigate, potential downside risks facing their businesses. Certain challenges...more

BCLP

My Company Went Through Bankruptcy And All I Got Was This Lousy Release – How to Get a Non-Consensual Release of Third Parties in...

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Officers and directors work hard to shepherd their company through bankruptcy. But, even after all that hard work, creditors can still turn around and sue them individually for alleged acts prior to the bankruptcy....more

Allen Matkins

"I Say You Are No Longer A Board"

Allen Matkins on

Several Nevada statutes provide for the appointment of a receiver or custodian of a corporation, including NRS 32.010, NRS 78.347, NRS 78.630 and NRS 78.650. Yesterday, the Ninth Circuit Court of Appeals addressed whether...more

Baker Donelson

If You're Reading This, You're Too Late: Key Drivers in Rising Health Care Defaults

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Health care bankruptcy filings more than tripled in 2017 as compared to 2016 with no end in sight to the financial struggles facing owners and operators in the sector. According to Bloomberg, health care bankruptcies have...more

Kramer Levin Naftalis & Frankel LLP

“Golden Share” Equity Holder Can Bar Bankruptcy Filing

The Bankruptcy Court in the Southern District of Mississippi (the “Court”), in In re Franchise Services of North America, Inc., Case No. 1702316EE (Bankr. S.D. Miss. Dec. 18, 2017), upheld the blocking power held by a...more

Dechert LLP

Global Private Equity Newsletter - Winter 2016 Edition: Recent Developments in Acquisition Finance

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Two recent court decisions may result in a broadening of the range of options available to an equity sponsor in respect of an insolvent portfolio company. The first decision may provide increased flexibility in structuring...more

BakerHostetler

The ABI Commission on Business Bankruptcy Reform: Director and Officer Fiduciary Duties and Lender Liability

BakerHostetler on

Will Congress Finally Act? This is the third in a series of Alerts regarding the proposals made by the American Bankruptcy Institute’s Commission to Reform Chapter 11 Business Bankruptcies. It covers the Commission’s...more

Davis Wright Tremaine LLP

Directors of Nonprofit Held Financially Liable for Relying on Incompetent Officers and Lack of Oversight

In a striking decision earlier this year, the 3rd Circuit Court of Appeals affirmed a jury’s findings of liability for breach of fiduciary duties and ‘deepening insolvency,’ and the award of $2.25 million in compensatory...more

Cooley LLP

Blog: Shareholder Proposal Regarding Audit Committee Composition

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As noted in this article from Compliance Week, the Corp Fin staff have refused to issue no-action relief to Citigroup agreeing that it could exclude from its proxy statement a proposal from the prolific John Chevedden...more

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