Personal Liability Risk for Chapter 11 Management: Key Considerations When Deciding Whether to Stay or Resign
Recording of a 90-minute CLE video webinar with Q&A
This CLE webinar will discuss how to counsel and advise officers and other members of management regarding whether to stay on after a company files Chapter 11 and how to mitigate personal liability. While most CLE programs focus on what incentives the debtor will be allowed to offer existing management to entice them to remain throughout the Chapter 11 case, this program will focus on what risks key employees face if they continue on or if they decide to leave when the business files bankruptcy.
Outline
- Effect of bankruptcy on pre-petition compensation and benefits
- Benefits and risks to key employees of staying
- Benefits and risks to key employees of resigning
Benefits
The panel will review these and other key issues:
- What is the effect of indemnification agreements from venture or private equity?
- Can the debtor honor pre-petition compensation obligations?
- How can directors and officers mitigate their personal liability?
Faculty
Frank A. Oswald
Partner
Togut Segal & Segal
For more than 30 years, Mr. Oswald has focused his practice exclusively on bankruptcy, out-of-court restructurings and... | Read More
For more than 30 years, Mr. Oswald has focused his practice exclusively on bankruptcy, out-of-court restructurings and creditors' rights matters. He has represented clients in all facets of bankruptcy cases as well as insolvency issues in business transactions.
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Dana R. Quick
Partner
Bast Amron
Ms. Quick practices in the area of insolvency and commercial litigation. Her experience includes prosecuting director... | Read More
Ms. Quick practices in the area of insolvency and commercial litigation. Her experience includes prosecuting director and officer liability claims; representing trustees, creditors, creditor committees, and debtors in bankruptcy proceedings; state court insolvency litigation; and prosecuting and defending preference actions. Additionally, Ms. Quick has significant experience representing and counseling companies of all sizes on employment issues, including ADA, FMLA, and Title VII matters.
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Harvey L. Tepner
Independent Corporate Director
Mr. Tepner has spent more than 30 years as an investment banker, a private equity/distressed debt investor, and... | Read More
Mr. Tepner has spent more than 30 years as an investment banker, a private equity/distressed debt investor, and independent corporate director, strategic advisor and private investor. Most recently, he helps companies work through challenging situations including balance sheet restructurings, complex financings, M&A, and corporate governance matters, often by serving as an independent board member. Mr. Tepner has served on boards of public and private companies of varying sizes, across numerous industries, and with operations in various countries. This includes public companies, private equity portfolio companies, and distressed companies going through or exiting from a restructuring/chapter 11 reorganization. He has served as Chairman and Lead Independent Director of boards, and chaired Audit, Compensation, Finance, and Special Committees.
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