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Financial Distress Creditors Board of Directors

Offit Kurman

Director & Officer Duties: What Every Leader Should Know

Offit Kurman on

Earlier this year, the FDIC, acting as receiver for Silicon Valley Bank (“SVB”), filed a breach of fiduciary duty lawsuit against six officers and eleven directors of the bank. The FDIC alleged that these individuals ignored...more

Woodruff Sawyer

Managing Through Financial Distress: The Board’s Oversight Role and Protecting Against Litigation

Woodruff Sawyer on

When a public company faces significant financial challenges and uncertainty, the pressure on management teams and boards of directors to make the “right” decisions intensifies. If those financial challenges are not...more

Conyers

Under Pressure: Key considerations and practical tips for BVI companies approaching insolvency

Conyers on

Inflationary pressures and increasing interest rates are expected to continue to have a negative impact on the global economy during 2023. In this article we consider restructuring options under BVI law available to companies...more

Jones Day

Sequana: Directors' Duties in a Distressed Landscape

Jones Day on

In Short - The Situation: Directors in England and Wales owe duties to the companies to which they are appointed (and may face personal liability for breaching such duties). Although the Companies Act 2006 obliges...more

Skadden, Arps, Slate, Meagher & Flom LLP

How Directors Can Manage the UK Supreme Court’s ‘Balancing Exercise’ in Difficult Times

Economic downturns can put both companies and their boards to the test. An important judgment from the U.K. Supreme Court in October 2022, the Sequana case,1 clarifies the obligations of directors of a company facing the...more

Lowenstein Sandler LLP

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

Lowenstein Sandler LLP on

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

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