• Embed Doc
  • Copy Link
  • Readcast
  • Collections
  • CommentGo Back
Download
 
ISSUES FACING OFFICERS ANDDIRECTORS IN FINANCIALYTROUBLED COMPANIES
January 29, 2009
 
OUTLINE
Zone of Insolvency
○
Defined
○
Causes of Action
○
Claimants
○
Derivative Claims
○
Deepening Insolvency
○
Defenses
Directors and Officers Insurance
○
Mechanics
○
Coverage Waterfall
○
Priority of Payment Endorsement
○
Indemnification
○
Endorsements
○
Property of the Bankruptcy Estate
○
Select Issues
 
ZONE OF INSOLVENCY
Definition
:
“Where a corporation is operating in thevicinity of insolvency, a board of directors is notmerely the agent of the risk bearers, but owes its dutyto the corporate enterprise.”
Credit Lyonnais Bank  Nederland N.V. v. Pathe Communications Corp., No.12150, 1991 Del. Ch. LEXIS 215, at 108 (Del. Ch. Dec.30, 1991).
 
of 00

Leave a Comment

You must be to leave a comment.
Submit
Characters: ...
You must be to leave a comment.
Submit
Characters: ...