Fiduciary Duty Conversations During COVID-19: Ways to Save a Business

S&C partners Jim Bromley and Andy Dietderich, the co-heads of our Global Restructuring practice, discuss strategies for boards confronting the “zone of insolvency” during the COVID-19 crisis.

 

While the pandemic has changed business-planning and liquidity discussions, fiduciary duties of care, loyalty and good faith remain constant, and boards can continue taking careful risks in a “zone of safety.” Andy and Jim discuss innovation in Delaware law for director duties and ways contingency planning can help save a business from ultimately filing for Chapter 11.