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Private equity lawyers wince after (US) bankruptcy court ruling - conflict of interest being taken more seriously than usual https://t.co/V19ZBwwT2H via @FT
Battle Over Shareholder Pacts Strains Delaware’s Business Courts But is entirely consistent with my research on corporate governance here: https://t.co/rCbZ9RgzSB and here: https://t.co/O6qyl9rjTZ https://t.co/mBNIiBNPrf
nearly all U.S. bankruptcy judges let the big debtors counsel law firms do as they please. But one Virginia-based judge recently put his foot down. My look at an almost unprecedented decision that will frighten private equity: https://t.co/rYrbfrioZp https://t.co/3yJ6qSKcUc
Sweeping changes to Delaware corporate law could give more power to influential shareholders, allowing them to make more deals on behalf of the company without board oversight. This development has sparked a debate over the role and necessity of corporate boards and has strained Delaware’s Business Courts. Concurrently, private equity lawyers are reacting to a recent bankruptcy court ruling where a Virginia-based federal judge highlighted conflicts of interest in relationships with financial sponsors and debtors in a Chapter 11 case. The ruling, described as almost unprecedented, has caused concern among private equity firms.
