Chapter 11 and Independent Directors: Maximizing Recovery; Challenging Conflicts; Defending Director Integrity
Restructuring and Finance Litigation co-chair Stephen B. Selbst and partner Steven B. Smith served as faculty for a BARBRI Live Webinar CLE course titled "Chapter 11 and Independent Directors: Maximizing Recovery; Challenging Conflicts; Defending Director Integrity."
This panel discussed the phenomenon of bankruptcy directors and what strategies are available to creditors to increase their recovery.
Discussion topics included:
- What makes a director truly "independent"?
- What showing should bankruptcy courts require before deferring to the debtor board's decisions on investigations and avoidance actions?
- How can creditors and committees enhance recovery for creditors?