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Directors of BVI companies: to whom do you owe duties if your company is experiencing financial stress?

Introduction

British Virgin Islands, Company & Commercial, Insolvency & Restructuring, Litigation, Ogier, Supply chain, Coronavirus
Don’t Lend No Hand to Raise No Flag Atop No Ship of Fools: Breach of SPE Provisions by Non-Borrower Exposes Non-Borrower to Potential Tort Liability

A recent decision of New York’s highest court potentially strengthens the ability of lenders to bring suits against third parties for participation in a borrower’s breach of single purpose entity/bankruptcy remote loan document covenants.

USA, Insolvency & Restructuring, Litigation, Cadwalader Wickersham & Taft LLP
Don’t Lend No Hand to Raise No Flag Atop No Ship of Fools: Breach of SPE Provisions by Non-Borrower Exposes Non-Borrower to Potential Tort Liability

A recent decision of New York’s highest court potentially strengthens the ability of lenders to bring suits against third parties for participation in a borrower’s breach of single purpose entity/bankruptcy remote loan document covenants.

USA, New York, Insolvency & Restructuring, Litigation, Cadwalader Wickersham & Taft LLP