News & Analysis as of

Corporate Officers Bankruptcy Code

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Canada (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER CANADIAN LAW - 1. Canada's Political and Legal System - Canada has a Federal constitution that was significantly overhauled in the early 1980's,...more

King & Spalding

Game Changer

King & Spalding on

Dubai Court Finds Directors and Managers Personally Liable for Over AED 448 Million in Company Debts - INTRODUCTION - For a manager, officer or director of a distressed company, it is tempting to indulge in what one...more

Patterson Belknap Webb & Tyler LLP

Above-Board: Officers of a Corporation Not Entitled to Key Employee Retention Plan Payments

A key goal of the Bankruptcy Code is to prevent corporate insiders from profiting from their employer’s misfortune. Section 503(c) of the Code makes clear: “there shall neither be allowed, nor paid... a transfer made to, or...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Canada

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER CANADIAN LAW - 1. Canada's Political and Legal System - Canada has a Federal constitution that was significantly overhauled in the early 1980's,...more

Winstead PC

Court Holds That The Cost To Create A Distributor List Was Sufficient Evidence of Damages for A Breach of Fiduciary Duty Claim

Winstead PC on

In In re Amerisciences, a bankruptcy trustee sued a bankrupt company’s former officers for breach of fiduciary duty regarding the theft of trade secrets. No. 18-20394, 2019 U.S. App. LEXIS 20635 (5th Cir. July 11, 2019). ...more

Dechert LLP

Directors, Officers and Other Responsible Persons Be Aware - Your Vicarious Liability for Your Company’s Violations of Securities...

Dechert LLP on

A debtor ordinarily may discharge debts in bankruptcy, unless one of several exceptions apply. One of the preclusions to dischargeability of certain debts, found in Section 523(a)(19) of the U.S. Bankruptcy Code, generally...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

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