How Insolvency Changes The Responsibilities Of Corporate Directors
- Topics:
- Securities litigation
- Tags:
- Akin Gump Strauss Hauer & Feld,
- Litigation,
- Leadership,
- Enron Corp.,
- Director,
- CVC,
- Corporate Law,
- Corporate Governance,
- Business Operations,
- Business Ethics,
- ...
- Source:
- Akin Gump Strauss Hauer & Feld
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Overview: The post Enron focus on corporate responsibility means new scrutiny on how corporate directors conduct themselves. This article look at how just the possibility of insolvency tends to change the rules of the game. In Enron’s wake, more directors that are corporate may be worrying about their roles. Figuring out where loyalties lie may be a board member’s first task today. Insolvency and the bankruptcy process create new and different obligations for directors. CVC’s experience illustrates the potential for harm arising out of ill-considered actions at the time of Papercraft’s bankruptcy. As a result, no director wants to follow in such footsteps.
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Format: PDF | Size: 120KB | Date: Jun 2002 | Pages: 5
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