Concurrent Sessions

Strategies to deal with vocal or troublesome employees, officers, directors and other stakeholders of an insolvent company

Joint Committee Session by:

  • Employment & Immigration Law Committee
  • Insolvency Committee

 

Session Synopsis:

This session concerns the proper role of shareholders, employees, directors and other stakeholders of a company that is in insolvency proceedings. How do you deal with dissenting shareholders, directors or/and employees? Is it possible for the court to remove management or directors if the judge concludes that they are impeding restructuring efforts or are likely to act inappropriately? Where does one draw the line between legitimate stakeholder advocacy and obstruction? We must consider the role of “employee representatives” such as labour unions and works councils in insolvency proceedings as well. Panellists will discuss the ways that many types of parties other than creditors may stymie restructuring efforts of an insolvent company and what tools are available to respond to obstructive tactics.

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