Nota Bene Episode 94: Mapping COVID-19’s Impact on American Bankruptcy and Restructuring with Edward Tillinghast

08.26.2020

Multinational boards are facing a major dilemma in response to COVID and its impact on their business forecasting. Many companies are facing insolvency and are left to decide how to approach bankruptcy proceedings. We’re joined by bankruptcy attorney and expert, Edward Tillinghast, to explore what companies can do to protect themselves as they face unprecedented levels of bankruptcy filings and lawsuits.  

Edward Tillinghast is a partner and Practice Group Leader of Sheppard Mullin’s Finance and Bankruptcy Practice Group. He specializes in U.S. and cross-border insolvencies, particularly involving Asia, Latin America, and other emerging and developing markets, and related creditors' rights litigation.

Subscribe on Apple PodcastsGoogle Play or Stitcher to receive every new episode as soon as they're published!

What We Discussed in This Episode:

  • What do board members have to think about when it comes to filing for bankruptcy in these COVID times?
  • How is the economic fallout from COVID different from that of the Great Recession?
  • Is there a shift in board fiduciary duties when a company is insolvent?
  • Can there be criminal liability for board members and officers for breach of fiduciary duties as a company goes through insolvency?
  • What are the various ways companies can protect their directors and officers if there are lawsuits for breach of fiduciary duties?
  • Why is it important to have different types of advisors like legal and financial advisors present at company board meetings?
  • How did the shift in consumer buying habits lead to the bankruptcy filings early in 2020 prior to COVID?
  • Will there be a change in corporate behavior going forward?
  • Is there likely to be a rush of bankruptcy filings in the near future and will that slow down the court system?

Resources Mentioned:

"Precautionary and Prudency Measures for Boards Addressing COVID-19 Business Uncertainties,"  Finance and Bankruptcy Law Blog, April 10, 2020

Jump to Page

By scrolling this page, clicking a link or continuing to browse our website, you consent to our use of cookies as described in our Cookie and Advertising Policy. If you do not wish to accept cookies from our website, or would like to stop cookies being stored on your device in the future, you can find out more and adjust your preferences here.