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Breach of Duty › Shareholders › Insolvency

Offit Kurman

Director & Officer Duties: What Every Leader Should Know

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Earlier this year, the FDIC, acting as receiver for Silicon Valley Bank (“SVB”), filed a breach of fiduciary duty lawsuit against six officers and eleven directors of the bank. The FDIC alleged that these individuals ignored...more

Ballard Spahr LLP

Determining Insolvency: A Critical Duty for Directors at Distressed Companies

Ballard Spahr LLP on

Summary - If a corporation’s directors fail to identify the pivotal point at which their company becomes legally insolvent, they can be held personally liable for breaching their fiduciary duties to the corporation’s...more

Conyers

Directors’ Duties on the Precipice of Insolvency: Brief Overview of BTI 2014 LLC v Sequana SA

Conyers on

The United Kingdom Supreme Court (the “UKSC”) recently delivered its eagerly anticipated judgment in BTI 2014 LLC v Sequana SA and others [2022 UKSC 25] (“Sequana”). The reasoning in Sequana will be highly persuasive in the...more

Proskauer Rose LLP

Suing Directors of a Troubled Business: When Form Trumps Substance

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Creditors of distressed businesses are often frustrated by shareholder-controlled boards when directors pursue strategies that appear to be designed to benefit shareholders at the creditors’ expense. In these circumstances,...more

Robins Kaplan LLP

We Don’t Talk About Insolvency (No, No, No …)

Robins Kaplan LLP on

As a parent of three young children, Disney’s excellent new movie, Encanto, has been on heavy rotation in my household. It’s a story of an extended family whose members possess unique magical gifts. Through several humorous...more

Seyfarth Shaw LLP

Securities and Corporate Governance Litigation Quarterly

Seyfarth Shaw LLP on

Welcome to the fourth issue of Securities and Corporate Governance Litigation Quarterly, Seyfarth’s quarterly publication of the Securities & Financial Litigation Group focusing on decisions or other items of interest for...more

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