Foley Partner Gardner Davis authored a chapter titled “Advising the Board of Directors Regarding Sale of the Financially Troubled Company” in an Aspatore Books publication titled Inside the Minds: Buying and Selling Distressed Businesses. Davis provides advice to boards of directors and special committees of companies entering out-of-court restructurings of financially distressed businesses and commercial bankruptcies, including an overview of the directors’ fiduciary duties and four high risk situations they may face in connection with the sale of a financially distressed company.
