Corporate,
Bankruptcy,
9th U.S. Circuit Court of Appeals
Dec. 24, 2018
Restrictions on corporate authority to file a bankruptcy petition
The 9th Circuit recently reached the unsurprising conclusion that former board members lacked the power to authorize the filing of a bankruptcy petition by the corporation.
David S. Kupetz
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SulmeyerKupetz PC
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UC Hastings College of the Law
David is an expert in bankruptcy, business reorganization, restructuring, assignments for the benefit of creditors, and other insolvency solutions.
The 9th U.S. Circuit Court of Appeals recently reached the unsurprising conclusion that former board members lacked the power to authorize the filing of a bankruptcy petition by the corporation. Sino Clean Energy, Inc. v. Seiden (In re Sino Clean Energy, Inc.), 901 F.3d 1139 (9th Cir. 2018), involved a situation where, as part of litigation brought by a group of ...
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