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15 Feb

Threshold Issue In Bankruptcy: Allowance Of The Claim Third, advancement or indemnification claims will be subjected to enhanced scrutiny not imposed pre-petition. As a threshold matter, the bankruptcy court will consider whether the claim is allowable under section 502 of the Bankruptcy Code (the "Code"). Claims against directors and officers are becoming increasingly common.Your business and its directors and officers could be sued by customers, current or former employees, competitors, regulators, creditors, vendors or even investors.

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Whether a board is faced with personal exposures for the first time, navigating increasing regulatory responsibilities, or the vehicle being used to accomplish an IPO or acquisition is bringing about unique challenges, the shield provided by directors and officers (D&O) coverage design needs to remain intact in its ability to respond and insulate effectively.

Expanded Duties, With Some Or No Opportunity To Limit Liability First, the duties of directors and officers are expanded to include fiduciary duties to the company's creditors as well as to the company and its shareholders.

In fact, some courts have held that the company's duties to its creditor Instead, creditors may protect their interests by bringing derivative claims on behalf of the insolvent corporation and any other direct non-fiduciary claim that may be available to individual creditors.

In addition to these factors is the multitude of startup incubators providing support through tutelage and/or angel investors who are ultimately seeking gains on their vested interest through the success of these businesses.

This will in turn positively influence the survival rate and success of more businesses, which are able to experience true scaling and later stage funding opportunities.