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Guidance for Directors of Financially Troubled Companies from Delaware Bankruptcy Court by Kathryn McKenna Pytlewski
Drinker Biddle & Reath LLP
Philadelphia Office
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September 11, 2008
Previously published on September 2008
The United States Bankruptcy Court for the District of Delaware on May 30, 2008, issued a memorandum opinion in which it refused to dismiss claims of breach of fiduciary duty against directors and officers of a company who approved the sale of the company's assets on the eve of its filing for bankruptcy protection.
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The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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