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Board of Directors Financial Distress

Woodruff Sawyer

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

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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

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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

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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

K&L Gates LLP

Health Care Triage: Key Considerations for Officers and Directors of Distressed Companies

K&L Gates LLP on

In this week’s episode, Andrea Cunha outlines some of the key considerations directors and officers should assess when their company is approaching insolvency, including how to evaluate financial distress of the company, the...more

Latham & Watkins LLP

Aufatmen bei Unternehmensleitern und Insolvenzverwaltern: Bundesgerichtshof bestätigt D&O-Deckung bei Insolvenzverschleppung

Latham & Watkins LLP on

Der Bundesgerichtshof (BGH) hat mit Urteil vom 18. November 2020 (IV ZR 217/19) entschieden, dass Ansprüche gegen GmbH-Geschäftsführer auf Ersatz von Zahlungen, die nach Insolvenzreife vorgenommen wurden, vom...more

American Conference Institute (ACI)

[Virtual Event] Crown Corporate Governance Annual Conference - January 19th - 20th, 10:15 am - 6:00 pm EST

Practical Strategies for Board Oversight of Government-Owned Entities and Agencies. The CI’s 16th Annual Conference on Crown Corporate Governance returns in a completely interactive virtual format to help you navigate a...more

Sheppard Mullin Richter & Hampton LLP

Nota Bene Episode 94: Mapping COVID-19’s Impact on American Bankruptcy and Restructuring with Edward Tillinghast

Multinational boards are facing a major dilemma in response to COVID and its impact on their business forecasting. Many companies are facing insolvency and are left to decide how to approach bankruptcy proceedings. We’re...more

Goodwin

Restructuring: Top Ten Questions for Boards to Consider During a Down Cycle

Goodwin on

Board Decision Making in a Down Cycle - The last several months have been unprecedented in terms of how quickly and drastically business environments have changed. With widespread uncertainty and financial distress...more

Jones Day

Directors' Duties—A European Overview: Financial Distress and COVID-19

Jones Day on

A company or group's financial distress causes significant turmoil for its owners, directors, managers, employees and often its suppliers and other creditors. For directors in particular, there are significant...more

Troutman Pepper Locke

COVID-19 and Director Liability: Discharging Fiduciary Duties While Navigating the Financial Distress and Business Uncertainty...

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The COVID-19 pandemic has caused unprecedented economic disruption at virtually every level of a business, from alarming declines in demand and revenue, operational and supply chain problems , employee issues, roadblocks to...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

Hinshaw & Culbertson LLP

A Funding and Business Viability Checklist for Companies Contending with Effects of the COVID-19 Crisis

The COVID-19 crisis is having a very substantial impact on many businesses. On a daily basis, they are struggling to continue their operations while facing mounting economic losses and ongoing cash flow shortfalls. A number...more

Skadden, Arps, Slate, Meagher & Flom LLP

Thoughts for Boards of Directors on the COVID-19 Crisis

Although different in some important respects and rapidly evolving, the global pandemic shares many of the characteristics of other broadscale crisis situations that prior boards of directors have confronted and managed...more

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