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Fiduciary duties for directors of distressed, insolvent, and bankrupt companies
28 January 2021
Given the ongoing effects of the COVID-19 pandemic, many industries are bracing for an increase in bankruptcy filings and distressed M&A activity. It is important for directors to understand their fiduciary duties as a company's financial situation evolves and potentially deteriorates.
This article seeks to provide insights into a director's fiduciary duties when a company approaches or enters insolvency, and endeavors to provide practical guidance for directors on the application of fiduciary duty best practices in the context of a bankruptcy sale process.
Click here to read the article, which was originally published on Bloomberg Law.
Authored by Ryan Philp, Ronald Silverman and Matt Ducharme.
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