Fiduciary Duties from Ordinary Course, into Distress and Insolvency, and Through Bankruptcy
This panel discusses questions relating to the evolution of fiduciary duties as a company's fortunes change. Do directors' duties or decision processes change as the company's conditions worsen? Is there still any implication to a "zone of insolvency"? How do directors' duties change in bankruptcy? What duties are there to secured and unsecured creditors? Are there duties to controlled affiliates or their constituencies? Are there process protections?