The Independent Director’s Role in Optimizing Corporate Workouts and Bankruptcy Outcomes

Special committees made up of independent directors can guide a company through the bankruptcy process without accusations of bias.

Ponzi Scheme Lender May Be Off The Hook, After All: A Case Study

The Sixth Circuit would quote Ohio case law to explain that “A contract of novation is created where a previous valid obligation is extinguished by a new valid contract, with the consent of all the parties, and based on valid consideration.” In a sense, a novation establishes that the prior contract is fully performed by the novated contract.