On May 20, 2009, TroyGould attorneys made a presentation to members of the Southern California Chapter of the Association of Corporate Counsel titled:
Navigating the Legal and Ethical Shoals
of a Recessionary Economy
In these difficult economic times, legal advisors to officers, directors and boards of directors face particular challenges:
- What fiduciary and ethical issues arise when a corporation’s financial condition deteriorates, and the corporation approaches the "zone of insolvency"?
- When there is an auction of the corporation or a proposed change-in-control transaction?
- When facing the risk of a regulatory takeover?
- When shareholders sue and assert derivative claims purportedly on behalf of the corporation?
Attendees at the program learned how to navigate these difficult waters and keep their corporate clients – and themselves – safe from the dangers of a down economy.