Evolving Delaware Law Narrows Lender Options for Recovery from Troubled Borrowers
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Evolving Delaware Law Narrows Lender Options for Recovery from Troubled Borrowers
By Mark M. Maloney, Partner & Thad Wilson, Senior Associate, King & Spalding LLP
Delaware law regarding creditors’ abilities to bring successful breach of fiduciary duty claims has evolved significantly over the past 15 years — from creditors once being able to assert direct claims to now being able only to assert derivative claims on behalf of all creditors in “rare”...
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Thad Wilson is a senior associate in the Atlanta office of King & Spalding and a member of the firm’s Financial Restructuring Practice Group. He has represented a broad spectrum of clients in financial restructuring, corporate, and insolvency matters, including bankruptcy-related government investigations and appeals. He has represented debtors, secured and unsecured creditors, and other parties in interest in major Chapter 11 bankruptcy cases.
Mark M. Maloney is a partner and a member of the Financial Restructuring Practice Group of King & Spalding’s Atlanta office. In addition to his frequent representation of secured creditors in workouts and Chapter 11 proceedings, Maloney’s practice focuses on representing litigants in contested matters, adversary proceedings, and other litigation in significant Chapter 11 bankruptcy cases and insolvency proceedings involving creditors’ rights, lender liability, and alter ego liability. Maloney is a Fellow in the American College of Bankruptcy.
