The Independent Director Role in Optimizing Corporate Workouts and Bankruptcy Outcomes

How Can Special Committees Influence Your Bankruptcy? The appointment of independent directors may benefit a financially distressed business throughout its restructuring process, including during a bankruptcy case. An outside voice can guide a company through the process while fending off claims of conflict of interest by the court. What is an Independent or Non-Executive Director? An independent director can be conceived of as having no direct or indirect connection to the business, including not being an employee, owner, or other insider of the business, and not deriving any income from […]