Gain a thorough understanding of common claims made against directors and officers and strategies for defending those claims.
Mismanagement of a corporation by officers and directors can have a direct impact on a creditor's rights and ability to recover against a corporate debtor. This topic will help individuals conducting business with corporations understand the fiduciary duties of officers and directors. The speakers will explore the standard of liability of officers and directors, key defenses and protection. The speakers will provide insight for pursuing potential personal liability actions in state and bankruptcy court. Creditors will want to attend if they are dealing with a bankrupt debtor seeking recovery directly from officers and directors over breach of fiduciary duties.
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Why Lorman?
Over 36 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
Discuss Director's Fiduciary Duty to Company and Investors
- Standard of Care and Justifiable Reliance (15 Pa.C.S. § 1712)
- Duty of Care
- Duty of Loyalty
State Court Remedies Against Directors and Officers
- Personal Liability (15 Pa.C.S. § 1713)
- Liability for Unlawful Dividends and Other Distributions (15 Pa.C.S. § 1553)
- Preparing for Potential Litigation
- Preservation of Evidence
- Notice of Default/Demand Letter
- Notice to Insurance Carrier
Indemnification and Insurance of Directors
- Mandatory Indemnification (15 Pa.C.S. § 1743)
- Prohibited Indemnification (15 Pa.C.S. § 1742)
- Permissive Indemnification (15 Pa.C.S. § 1741 and 15 Pa.C.S. § 1744)
Bankruptcy Court Remedies
- Role of the Trustee in Seeking Claims Against Insiders
- Fiduciary Duty to the Creditors and Bankruptcy Estate
- Difference Between Claims Held by the Trustee and Claims Held by Investors
- Trustee's Causes of Actions
- Investor's Causes of Actions
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Why Lorman?
Over 36 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 March 25, 2021.
Call 1-866-352-9540 for further credit information.
- AR CLE 1.5
- This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
- CA MCLE 1.5
- Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
- CO CLE 2.0
- Lorman Education Services is a Certified Provider, as recognized by the Colorado Supreme Court Continuing Legal and Judicial Education Committee. This program is approved for 2.0 credit hours.
- MT CLE 1.5
- This program has been approved by the Montana Commission of Continuing Legal Education for a total of 1.5 CLE credits.
- NM CLE 1.5
- This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.5 hours of credit.
- NY CLE 1.5 including Areas of Professional Practice 1.5
- This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.5 credit hours in the area(s) of Areas of Professional Practice for 1.50 hours. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Business Center, LLC. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
- OR CLE 1.5
- Approved for 1.5 CLE credits in Oregon.
- VA CLE 1.5
- This program has been approved by the Virginia Mandatory Continuing Legal Education Board for 1.5 CLE credit hours.
- WA CLE 1.5
- This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of A/V credit under the Law & Legal Procedure category.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
Virginia MCLE requirements do not allow approval for programs that do not include an audio or audiovisual component.
This program was previously offered as a live webinar. Virginia MCLE requirements do not allow approval for attendance at duplicate programs.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 36 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
Kirk B. Burkley, Esq.
Bernstein-Burkley, P.C.
- Managing Partner of Bernstein-Burkley, P.C.
- Practice emphasizes all aspects of bankruptcy and restructuring, creditors’ rights, business and corporate transactions, litigation, real estate, and oil and gas
- Conducts regular seminars/live webinars and workshops on bankruptcy, creditors’ rights, and oil and gas
- Author of several publications related to the bankruptcy field, with work appearing in ABI Journal, Equipment Leasing Newsletter, Pennsylvania Association of Credit Managers Newsletter The Creditor, and more
- Emeritus board member of the American Board of Certification, past president of the American Board of Certification (2020), past president of Turnaround Management Association, member of Allegheny County Bar Association and the American Bankruptcy Institute
- J.D. degree, University of Pittsburgh School of Law; B.S. degree, Ohio University
- Can be contacted at 412-456-8108 or [email protected]
John J. Richardson, Esq.
Bernstein-Burkley, P.C.
- Partner in the litigation practice at Bernstein-Burkley, P.C.
- Practice focuses on civil litigation, including commercial litigation, bankruptcy litigation, personal injury and property damage litigation, employment litigation and zoning and land use
- Nominated by the Mayor of Pittsburgh and confirmed by the city council of the City of Pittsburgh to a position on the city’s three-member Zoning Board of Adjustment, where he conducted zoning hearings and rules on hundreds of applications for variances, 2014
- Member of the American Bar Association, Pennsylvania Bar Association, Ohio Bar Association and Allegheny County Bar Association
- Can be contacted at 412-456-8107 or [email protected]
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Why Lorman?
Over 36 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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