Responsibilities. And Liabilities When a Company is in Distress. And, How to Prepare for a Meeting with Your Lender
When a company is doing well, creditors are happy and may not scrutinize common practices of management or of the board. But, when a company is in distress, you can expect a call from your lender requesting a meeting. And, if the company may be unable to pay creditors in full, creditors may conduct a forensic examination and pursue alternative sources of recovery- such as officers and directors.
When does incorporation not prevent personal liability for a company’s debts?
How should the board of directors operate when a company is in distress so as to avoid personal liability?
How should a company prepare for negotiations with its lenders when it needs relief under loan documents?
This program will examine best practices for management and the board to facilitate a successful financial restructuring and to avoid personal liability.