15 oct. 2020 - Traduction en cours. BlackBerry Ltd. completed an amended debt refinancing transaction with its significant shareholder Fairfax Financial Holdings Limited (Fairfax), on September 1, 2020, after having made changes to the transaction terms on two separate occasions. These included...
Navigating Financial Distress: Key Considerations for Directors
Chapter 3 of Davies Governance Insights 2020
Traduction en cours.
The emergence of COVID-19 fundamentally reshaped our economy and the way we do business in a matter of weeks. These changes are likely to continue as the pandemic runs its course. The stresses and uncertainty brought on by the pandemic have led to unprecedented economic disruption, including to supply chains, liquidity and spending patterns. These and other factors pose a continuing challenge for many corporate directors. For financially distressed issuers, pandemic-induced changes to business operations could make recovery more difficult, and may set the standard for how their board members can and should respond to unexpected events in the future. In this chapter, we explore the duties, obligations and potential liabilities of directors of entities facing financial distress and the tools available to help organizations navigate through and out of a financial crisis.Read the chapter.
This chapter appears in the 2020 edition of Davies Governance Insights, our comprehensive annual report on the trends and issues most important to Canadian public companies.
5 oct. 2020 - Traduction en cours. The reasonableness of executive compensation arrangements has long been a contentious issue. The COVID-19 pandemic has accelerated pre-existing trends and introduced new challenges, including increased concerns about the widening pay gap between executives and...