Directors' Duties and Board Selection Before, During and Following Bankruptcy

May 5, 2016

The financially-distressed company puts special stresses on its board of directors. Conflicts of interest can arise both among board members and between board members and the constituents of a company's capital structure, as the respective interests of debt and equity may become unaligned in connection with decisions to recapitalize, sell or reorganize a company. In addition, stockholders and creditors may seek to force changes in the board while a company is reorganizing in bankruptcy and have influence on who will be appointed to a board upon the company's emergence from bankruptcy. This program includes a bankruptcy judge, two bankruptcy attorneys, a turnaround professional/Chief Restructuring Officer and a specialist in board recruitment for bankruptcy situations, and will discuss how competing interests are reconciled and corporate governance maintained before, during and following bankruptcy, including a review of recent court decisions.

Panelists

• Rolin P. Bissell (moderator), Young Conaway Stargatt & Taylor LLP, Wilmington, DE
• Honorable Janet S. Baer, U.S. Bankruptcy Court for the Northern District of Illinois, Wilmette, IL
• Howard Brownstein, The Brownstein Corporation, Conshohocken, PA
• Deryck Palmer, Pillsbury Winthrop Shaw Pittman LLP, New York, NY
• Steven A. Seiden, Seiden Krieger Associates, Inc., New York, NY

Presented by: Corporate Governance Committee and Business Bankruptcy Committee

Members of the Business Law Section may access the audio, program materials, and video from this program. Log in using your email address. CLE credit is only available to those attending the live programs.