As part of our ongoing mission to share insights into the second episode in our new series of The D&O Files.

In this episode we discuss the curious case of Nissan and its former Chairman, Carlos Ghosn. Key areas of the discussion includes the following:

- The background to the story of how one of the most successful and powerful CEOs of the motor industry ended up being arrested and then escaping out of Japan in a musical equipment box.

- How geopolitical events and exposures for director's are intertwined.

- What should a director expect from their D&O insurance in such an event when they have a conflict with the entity?

- What steps can directors take in advance to mitigate the impact of such an event where conflict can arise?

- What are the corporate governance lessons that arise for corporations and individuals from this saga?

As part of our ongoing mission to share insights into the world of Directors & Officers Insurance, we bring to you the first episode in our new series of The D&O Files.

In this episode we discuss the collapse of FTX Trading, and the ensuing scandal that unfolded. Key areas of the discussion includes the following:

• How did events unfold and what were the implications for directors?

• What types of claims did the directors face, and how might D&O Insurance have responded?
• What are the corporate governance lessons to be learned from this collapse?
• Does Tom Brady buy D&O Insurance?!

In episode 22 of the Rising Edge D&O Podcast, Richard and Owen are joined by Daniel Shamah, Partner at law firm O’Melveny & Myers, and Andrew Oldis, Partner at law firm Kaufman, Borgeest & Ryan.

As practitioners of D&O insurance working out of the UK, we deal with worldwide risks, including those emanating out the US.

Insolvency has always been a key risk for directors and officers, and with macroeconomic conditions pushing more companies to the brink, we expect to see increased risk in this area.

The process and risks arising from such an event vary across the globe, and it is important for practitioners and insureds to understand the nuances that exist from one jurisdiction to another.

In this episode we unpack the process that exists within the USA.

We discuss the interplay between the bankruptcy and arguably one of the most important assets for a director during an insolvency or restructuring event, the D&O insurance policy!

00.23 - 03.10: Richard and Owen introduce the topic and our guests.

03.15 - 11.24: Daniel explains what Chapter 11 in the US is and how it differs from other forms of bankruptcy.

11.24 - 13. 00: Owen and Daniel discuss the speed and complexity of US bankruptcy court proceedings.

13.00 - 23.58: Daniel and Andrew explain how D&O insurance comes into play in a bankruptcy event.

24.00 - 30.10: The trio discuss how insurance policies are increasingly being tailored for bankruptcy events and why that is helpful.

30.11 - 34.10: Daniel and Andrew explain how directors and officers and can mitigate the impact of decisions during bankruptcy proceedings.

34.11 - 36.00: Andrew discusses the role of the board of directors change during a bankruptcy and the key responsibilities during the process.

36.01 - 40.40: Andrew explains the role of outside counsel when representing a company in bankruptcy, how they can be helpful for individual directors and officers and the emotions and stress involved for Ds and Os.

40.41 - 42.49: Andrew gives his tips for how to manage the communication and relationships with various stakeholders during a bankruptcy event.

42.50 - 51.47: Daniel and Andrew share their important trends for insurers, directors and officers to consider in 2024 and why the ongoing Purdue Pharma Supreme Court case is so significant for future bankruptcy proceedings.

51.51 - 55.13: Owen shares his takeaways from the interview with Andrew and Daniel.

For more information on Rising Edge, visit our website.

The full archive of the Rising Edge D&O Podcast is available here.