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OnDemand Course

Director and Officer Liability: A Focus on Creditor Issues

Gain a thorough understanding of common claims made against directors and officers and strategies for defending those claims.

Learn the new theories of director and officer liability and what can be done to protect directors and officers from personal liability.The world of director and officer liability is changing. Creditors and trustees are the new plaintiffs asserting new and evolving theories of liability. The causes of action range from failing to take action to avoid insolvency to failing to implement adequate controls to catch fraudulent activity. Directors are facing personal liability for transactions with insiders, including transactions considered ordinary course for solvent companies such as repayment of loans from controlling shareholders and paying dividends. Insurance companies have responded by narrowing coverage when the corporation is insolvent. As a result, directors and officers and private equity firms have had to pay significant amounts personally in order to resolve claims against directors and officers.

Runtime: 91 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Director and Officer Liability

  • What Duties Are Owed?
    • Duty of Care
    • Duty of Loyalty
    • Obligations of Officers
  • To Whom Are Duties Owed?
    • Corporate Entity
    • Shareholders
    • Constituent Groups
  • Who May Enforce Duties?
    • Corporation
    • Shareholders
    • Creditors
  • What Is the Impact of Insolvency?
    • Who Will Be Enforcing a Claim for Breach?

Emerging Causes of Action

  • Deepening Insolvency
  • Claims Based on Avoidance Actions
  • Failure to Implement Adequate Controls

Insurance

  • Limitations Relating to Insolvency
  • Insured vs. Insured Exclusion
  • Excess Insurance
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on September 8, 2016.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

William H. Schorling

William H. Schorling

Buchanan Ingersoll & Rooney PC

  • Shareholder with Buchanan Ingersoll & Rooney PC
  • Practices in the area of bankruptcy and corporate reorganization
  • Experience includes representation of a number of Fortune-500 companies and money center and regional financial institutions in bankruptcy and insolvency matters
  • Actively involved in the bankruptcy legislative process starting with the 1994 Bankruptcy Amendments Act
  • Achieved the highest rating with Martindale-Hubbell Law Directory
  • Selected among America's Leading Business Lawyers by Chambers USA, The Best Lawyers in America® and Pennsylvania Super Lawyers®, as well as the Corporate Counsel Super Lawyers® list
  • J.D. degree, cum laude, University of Michigan School of Law
  • Can be contacted at 215-665-5326 or [email protected]
Linda J. Z. Young

Linda J. Z. Young

Buchanan Ingersoll & Rooney PC

  • Attorney with Buchanan Ingersoll & Rooney PC
  • Practice consists of a variety of commercial litigation matters, including bankruptcy, business disputes, contract disputes, real estate litigation and banking litigation
  • Represented secured and unsecured lenders in both state and federal court collection matters
  • J.D. degree, University of Michigan School of Law; B.A. degree, summa cum laude, Washington University in St. Louis
  • Can be contacted at 813-222-3327 or [email protected]
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Pay once and get a full year of unlimited training in any format, any time!

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Product ID: 399199
Published 2016
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