"A Changing Landscape," Best’s Review
In its April 2015 issue, Best’s Review featured John K. Rezac’s article, “A Changing Landscape,” addressing the evolving theory of deepening insolvency. Mr. Rezac guides the reader through the origins of deepening insolvency to show that director and officer decisions made, and actions taken once a business has entered the “zone of insolvency,” including the decision to seek relief under the Bankruptcy Code, are likely to be scrutinized closely in subsequent bankruptcy proceedings. The article seeks to inform directors and officers how their conduct may later be viewed by Bankruptcy Court judges, trustees and creditors, and the impact of Bankruptcy Code provisions, including those relevant to the automatic stay, the composition of the bankruptcy estate, and permissible release of claims against directors and officers. Read the full article.