Kobi Kastiel

Does a Declaration of Independence Suffice? A New Study Raises Significant Questions About “Independent Directors” of Large Distressed Companies


A paper to be published soon in the University of Southern California Law Review, “The Rise of Bankruptcy Directors,” is sharply critical of the increased use of supposedly “independent directors” by distressed companies, often in anticipation of filing for bankruptcy, and the related adverse impact on creditor recoveries.  Although the appointment of what the authors, Jared A.