Description
Gain a thorough understanding of common claims made against directors and officers and strategies for defending those claims.Mismanagement of a corporation by officers and directors can have a direct impact on a creditor’s rights and ability to recover against a corporate debtor. This topic will help individuals conducting business with corporations understand the fiduciary duties of officers and directors. The speakers will explore the standard of liability of officers and directors, key defenses and protection. The speakers will provide insight for pursuing potential personal liability actions in state and bankruptcy court. Creditors will want to attend if they are dealing with a bankrupt debtor seeking recovery directly from officers and directors over breach of fiduciary duties.
Date: 2021-03-25 Start Time: End Time:
Learning Objectives
Discuss Director’s Fiduciary Duty to Company and Investors
• Standard of Care and Justifiable Reliance (15 Pa.C.S. § 1712)
• Duty of Care
• Duty of Loyalty
State Court Remedies Against Directors and Officers
• Personal Liability (15 Pa.C.S. § 1713)
• Liability for Unlawful Dividends and Other Distributions (15 Pa.C.S. § 1553)
• Preparing for Potential Litigation
• Preservation of Evidence
• Notice of Default/Demand Letter
• Notice to Insurance Carrier
Indemnification and Insurance of Directors
• Mandatory Indemnification (15 Pa.C.S. § 1743)
• Prohibited Indemnification (15 Pa.C.S. § 1742)
• Permissive Indemnification (15 Pa.C.S. § 1741 and 15 Pa.C.S. § 1744)
Bankruptcy Court Remedies
• Role of the Trustee in Seeking Claims Against Insiders
• Fiduciary Duty to the Creditors and Bankruptcy Estate
• Difference Between Claims Held by the Trustee and Claims Held by Investors
• Trustee’s Causes of Actions
• Investor’s Causes of Actions
CLE (Please check the Detailed Credit Information page for states that have already been approved) ,NALA ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
Kirk B. Burkley, Esq.-Bernstein-Burkley, P.C., John J. Richardson, Esq. – Bernstein-Burkley, P.C.
