WARN Act Violation States Fiduciary Duty Breach [Delaware Business Court Insider]

Mark Felger and Barry Klayman, both members of Cozen O’Connor’s Bankruptcy group, discuss a recent case in which a judge came to the conclusion that a knowing violation of the law by a fiduciary is a breach of duty. While this is not a new proposition, his rejection of the argument that the debtor was not harmed by the increase in its liabilities is not typical. This case represents another tool for Chapter 7 trustees seeking to pursue breach of fiduciary duty claims again former controlling owners.

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Mark E. Felger

Co-Chair, Bankruptcy, Insolvency & Restructuring

mfelger@cozen.com

(302) 295-2087

Barry M. Klayman

Member

bklayman@cozen.com

(302) 295-2035


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