Oversight—Who Needs It and What Is the Proper Form?
Author: Jeffrey N. Rothleder.; Kyle Arendsen.
Source: Volume 40, Number 12, December 2024 , pp.137-141(5)
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Abstract:
What is oversight in a restructuring process? Generally, corporate governance and oversight reside with existing management and directors; however, as discussed in this article, additional forms of oversight may be required, especially in connection with financially distressed entities. Such oversight varies depending on whether the entity has elected to file for bankruptcy or is in the early stages of its restructuring. This article identifies and discusses the various oversight roles that can be implemented in a restructuring and the ramifications each role can have on the process.Keywords: Internal Oversight—Independent Directors and Special Committees; The Bankruptcy Code and Structural Oversight; Examiners; Chapter 11 Trustees
Affiliations:
1: Squire Patton Boggs (US) LLP; 2: Squire Patton Boggs.