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    Does the Nathans decision raise the bar for directors?
    2011-07-12

    Findings last week of criminal liability in the Nathans Finance case echo the Centro ruling from the Australian Federal Court last month and make it clear that directors must apply their own judgement in the exercise of their duties rather than simply relying on management and expert advice.

    Filed under:
    New Zealand, Company & Commercial, Insolvency & Restructuring, Litigation, Chapman Tripp, Market capitalisation, Interest, Market liquidity, Debt, Legal burden of proof, Prospectus (finance), Securities Act 1933 (USA), Federal Court of Australia
    Location:
    New Zealand
    Firm:
    Chapman Tripp
    Severe consequences for franchisor executives: personal liability and non-dischargeable debt
    2013-07-24

    “Do not pass Go, do not collect $200” is a phrase we all remember from the childhood game Monopoly.  Like Monopoly, state franchise sales laws have rules and regulations that must be followed.  A franchisor’s failure to follow these basic procedural rules for selling franchises can result in self-destruction. 

    Filed under:
    USA, Franchising, Insolvency & Restructuring, Litigation, Whiteford Taylor & Preston LLP, Fiduciary, Prospectus (finance), Embezzlement, United States bankruptcy court
    Authors:
    David L. Cahn
    Location:
    USA
    Firm:
    Whiteford Taylor & Preston LLP
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