Panel: Allan Grafman, Deirdre O’Connor, and Steven Strom
Nothing tests a board of directors better than an existential threat to the company. And there is no greater existential threat to a company than its insolvency.
Whether a company is insolvent, however, is often unclear. This is why the phrase “zone of insolvency” is sometimes useful. At the same time, however, the phrase is commonly misunderstood and misused. Consequently, directors and officers often make mistakes that were easily avoidable.
This webinar first provides a grounding in the law with respect to how directors should conduct themselves as the solvency of their company becomes questionable, and how they must conduct themselves when the company becomes clearly insolvent.
The webinar goes beyond this, however, by providing a practical understanding of the various options a financially distressed company has available to it to deal with that financial distress, whether the company is solvent or not.
Options discussed include the assignment for the benefit of creditors, the ‘friendly’ foreclosure, traditional chapter 11, subchapter V of chapter 11, and out-of-court workouts.
As with each episode in this series, the information presented in this webinar will be equally helpful and accessible to company owners/executives as to board members and prospective board members.
Join us as an owner, officer, or board member of a company!
Add yourself to our “Interested List” (your information will never be shared with any third party) for more information.