Bridgeport holdings liquidating trust v boyer
Other past matters include the representation of debtors and would-be debtors in retail, asbestos, telecommunications, healthcare, energy, financial services and airline Chapter 11 cases, and of creditors and other interested parties in bankruptcies and other distressed situations. Foreman is a restructuring lawyer, with considerable experience and expertise in financial restructuring and corporate bankruptcy, transactions (M&As, divestitures and major contracts) and corporate governance issues, and dispute resolution.
He has extensive experience in the C-suite and boardroom, across the negotiation table and in court, as both a corporate transactional lawyer and business litigator. Hardiman is an experienced litigator, focusing on insurance coverage litigation and dispute resolution, with an emphasis on commercial general liability insurance, directors' and officers' (D&O) insurance, fiduciary liability insurance, errors and omissions (E&O) insurance, as well as property insurance issues.
Listen as our authoritative panel of attorneys explains the fiduciary duties of directors and officers when a company faces insolvency.
First, Standard General and its chief investment officer, Soohyung Kim, caused Magnacca to be appointed to the board of American Apparel, a struggling affiliate of Standard General. But, where, as here, the directors are said to have breached their duty of loyalty, it is fair to ask why. Second, why would the independent directors knowingly sacrifice the company so that Magnacca could achieve his personal agenda? One might say that it is not the plaintiff's job to explain the personal motivations of men and women; that the facts speak for themselves.During this time, the restructuring advisor made contact with only one other potential acquiror, but provided it with limited due diligence materials.On September 9, 2003, Micro Warehouse sold to CDW a substantial portion of its North American assets.
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Directors and officers must head off such claims because a breach of duty by directors and officers can lead to lawsuits against the corporation.