COUNSELING TO BOARDS AND INDEPENDENT DIRECTORS
Woodbridge Group of Companies. KBK advised new board of managers, appointed by bankruptcy court to supervise approximately 500 real estate owning entities, majority of which were debtors in chapter 11 cases filed to address allegations of investment fraud involving nearly $1 billion. K&B counselled board on terms of appointment, scope of authority, and board member liability protections.
Harvest Oil & Gas LLC. KBK represented outside members of board comprising the independent restructuring committee of oil and gas producing enterprise in chapter 11 regarding board members’ authority, board member protections (D&O insurance and indemnity rights), and conflicts with management.
Independent Manager of Unnamed Entity. KBK advised individual proposed to be appointed as independent manager of long-established business to exercise independent approval authority over aspects of out of court financial and organizational restructuring. Advice included negotiation of terms of employment and authority, manager protections (D&O insurance and indemnity rights), and exercise of independent authority.
* Other representations available upon request.