Focus (Forum & Focus)
Oct. 16, 2008
Getting Reorganized
There are several reasons why a committee and its counsel are better served by the extra protection of an exculpation clause in a confirmed plan than by the implicit meaning of the Bankruptcy Code, write David J. Richardson and Justin E. Rawlins. - Focus Column
FOCUS COLUMN
By David J. Richardson and Justin E. Rawlins Many reported opinions in recent years have held that Section 1103(c) of the Bankruptcy Code, which lists the duties of official committees of unsecured creditors, implicitly includes a grant of immunity for committee members against claims arising from actions taken in the course of carrying out such duties, except those arising from willful misconduct or ultra vires acts. Most of these r...For only $95 a month (the price of 2 article purchases)
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