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Adequate assurance under section 2-609 of the Uniform Commercial Code upon a customer’s bankruptcy filing
- Barnes & Thornburg LLP
- -
- USA
- -
- September 10 2009
As the automotive industry continues to restructure, whether through self-liquidation or government intervention, suppliers will inevitably be confronted with many of the same issues prevalent 4-5 years ago, including a supplier’s obligation to continue to provide goods post-petition and the supplier’s rights to adequate assurance as a condition to such shipment
Directors’ duties
- Norton Rose LLP
- -
- United Kingdom
- -
- February 6 2009
The following is a broad overview of the duties and liabilities of directors when their company is in financial difficulties
Exempted limited partnerships: winding up, dissolution and other changes
- Ogier
- -
- Cayman Islands
- -
- April 30 2009
The Exempted Limited Partnership (Amendment) Law, 2009, which was enacted in March 2009 and is expected to come into effect before the end of April 2009, has made significant changes to the regime for the winding up and dissolution of exempted limited partnerships ("Partnerships"
Motion to dismiss claims against former officers and directors denied
- Katten Muchin Rosenman LLP
- -
- USA
- -
- April 6 2007
The District Court sustained claims of breach of fiduciary duty, fraud and deepening insolvency asserted by the successor-in-interest to the Committee of Unsecured Creditors of DVI, a defunct company, against DVI’s former officers and directors
Good-faith Chapter 11 filing determination defeats fiduciary duty breach claim
- Jones Day
- -
- USA
- -
- August 1 2008
For the third time in as many years, the Delaware Chancery Court has handed down an important ruling interpreting the interaction between federal bankruptcy law and Delaware corporate law
Protecting the attorney-client privilege in corporate families
- Jones Day
- -
- USA
- -
- February 1 2008
The importance and practical benefits resulting from the use of the same in-house counsel for an entire corporate family are numerous
Expanded protections for directors navigating the zone of insolvency
- Sheppard Mullin Richter & Hampton LLP
- -
- USA
- -
- October 25 2007
In 1991, a decision of the Delaware Chancery Court helped popularize the term "zone of insolvency.”
Court's jurisdiction to make orders under Section 221 of the Companies Ordinance confirmed
- Herbert Smith Freehills LLP
- -
- Hong Kong
- -
- January 15 2007
Hong Kong's highest court has recently considered the extent of the court's sweeping jurisdiction under section 221 of the Companies Ordinance, which enables it (amongst other things) to compel companies in liquidation to produce documents and for individuals to be examined on oath
Duties of directors of distressed corporations under Maryland law
- Venable LLP
- -
- USA
- -
- March 3 2009
In these uncertain times, boards of directors face many important decisions about a company’s present and future actions, including reduction or suspension of dividends, layoffs, asset sales, unsolicited takeover offers, liquidation and even insolvency proceedings
Bankruptcy court imposes Caremark duties on general counsel
- Locke Lord LLP
- -
- USA
- -
- May 27 2008
On April 9, 2008, the US Bankruptcy Court for the District of Delaware issued its opinion in Miller v. McDonald, et al., 2008 WL 1002035 (Bkrtcy.D.Del.), in which it held that the general counsel of a public company had a duty to implement a system that would provide reasonable monitoring to prevent corporate wrongdoing
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