Litigating Director and Officer Claims in Bankruptcy

Level: Advanced
Runtime: 58 minutes
Recorded Date: April 20, 2021
Click here to share this program
Download PDF


• Identifying, Protecting, and Preserving Potential D&O Claims
        - Breach of Fiduciary Duty
        - Most Common Defenses
• Protecting & Preserving Third Party Claims
        - Malpractice
        - Aiding & Abetting
        - Conspiracy, RICO, etc.
• Competing Claimants
• D&O Insurance

Runtime: 1 hour
Recorded: April 20, 2021


A frequent element of bankruptcy cases is the assertion of claims against the directors and officers of the debtor, particularly when the debtor has a significant D&O insurance policy. This panel will explore the use of fiduciary-duty litigation in bankruptcy by dissecting the anatomy of a D&O lawsuit, including the types of claims asserted and their possible defenses.

The panelists will also discuss how to analyze D&O insurance policies, and such key issues as whether the proceeds of D&O policies are considered property of the estate. Finally, the panelists will highlight best practices for debtors’ counsel faced with such claims, and show how to navigate potential ethical issues.

This program was recorded as part of the American Bankruptcy Institute's 2021 Virtual American Spring Meeting held on April 20th, 2021.

Provided By

American Bankruptcy Institute


Leo Oppenheimer

Reid Collins & Tsai, LLP

Leo Oppenheimer is an associate in the Dallas office of Reid Collins & Tsai LLP.

Prior to attending law school and joining the firm, he was an investment banking analyst at a private-equity firm, where he gained experience in a range of industries, including transportation and logistics, oil and gas, insurance, and banking.

Mr. Oppenheimer co-authored ABI’s Quick Evidence Handbook, Second Edition (April 2018). He received his B.A. with honors in evolutionary biology from Columbia College in 2010, and his J.D. with honors from Columbia Law School in May 2016, where he served as managing editor of the Columbia Journal of Environmental Law and participated extensively in the Columbia Environmental Litigation Clinic.

Vincent E. Lazar

Co-Chair, Bankruptcy Litigation Practice
Jenner & Block

Vincent E. Lazar co-chairs Jenner & Block’s Bankruptcy Litigation Practice in Chicago and has advised debtors, committees and trustees in high-profile restructuring matters, as well as represened litigants in bankruptcy-related lawsuits. He also is a member of the firm’s Markets and Trading Practice and regularly advises clearing organizations, brokers and other market participants on insolvency matters.

Mr. Lazar is a contributing author to Colliers on Bankruptcy and is a Fellow of the American College of Bankruptcy. He has played a leading role in a number of financial services-sector insolvency proceedings and is considered an expert in commodity broker liquidation cases.

Mr. Lazar represents the trustee of Sentinel Management Group, a $1 billion fraud case involving the misuse of segregated commodity broker customer assets; CME Group in the MF Global case, including its management of the unprecedented transfer of undermargined positions to other commodity brokers; the examiner in the Lehman Brothers bankruptcy case; the National Futures Association in connection with Peregrine Financial Group’s bankruptcy case; and trustees in commodity broker bankruptcy cases such as Stotler & Company and Refco, LLC, where he acted as the trustee’s special counsel in the first-ever successful bankruptcy sale of a commodity broker business. A frequent speaker on insolvency issues affecting the derivatives and securities industries, he is co-chair of the ABA subcommittee drafting proposed changes to the CFTC’s Part 190 rules, and contributes to industry symposiums and workshops addressing resolution scenarios for clearing organizations, commodity brokers and broker-dealers during financial crises.

Mr. Lazar received his B.A./B.S. from Northwest University in 1987 and his J.D. magna cum laude from the University of Illinois College of Law in 1990, where he was a member of the Order of the Coif.

Alicia M. Bendana

Lugenbuhl, Wheaton, Peck, Rankin & Hubbard

Alicia M. Bendana, CFE is a shareholder with Lugenbuhl, Wheaton, Peck, Rankin & Hubbard in New Orleans, where she practices business bankruptcy law and commercial litigation with an emphasis on prosecuting and defending complex and multi-layered litigation claims on behalf of trustees, debtors, creditors, creditors’ committees, and other interested parties in chapter 7 and 11 bankruptcy proceedings. She represents clients as lead or co-lead counsel in the prosecution of officer and director liability litigation, legal and accounting malpractice liability litigation, fraud and RICO litigation, fraudulent-transfer/preference-avoidance litigation, contract disputes, insurance disputes, the partitioning of marital property in bankruptcy court, the excepting of debts from discharge, the opposing of plans of reorganization and the proposing of competing plans, and the purchase of assets from bankruptcy estates.

Ms. Bendana is Board Certified in Business Bankruptcy Law by both the American Board of Certification and the Louisiana Board of Legal Specialization. She is rated AV-Preeminent by Martindale-Hubbell and is listed in Chambers and Partners USA in the areas of bankruptcy and restructuring. Additionally, she is recognized in The Best Lawyers in America for her work in bankruptcy, creditor/debtor rights, insolvency and reorganization law, and bankruptcy litigation, and she is listed among Lawdragon’s 500 Leading U.S. Bankruptcy and Restructuring Lawyers. She also is listed in Super Lawyers in the areas of business bankruptcy, business litigation and debtor/creditor rights and in New Orleans Magazine as one of the “Top Lawyers” in the city.

Ms. Bendana has authored numerous articles for professional publications, is a frequent lecturer at professional programs, and is currently an adjunct associate professor of trial advocacy at Tulane University School of Law. She received her B.A. in 1986 from Hollins College and her J.D. in 1992 from Tulane University Law School.

Shane G. Ramsey

Nelson Mullins Riley & Scarborough, LLP

Shane G. Ramsey is a partner in the Nashville, Tenn., office of Nelson Mullins Riley & Scarborough, LLP, where he focuses his practice on financial restructuring, bankruptcy and corporate trust matters. He regularly represents committees of unsecured creditors, indenture trustees, secured creditors, unsecured creditors, bondholders, noteholders, liquidation trustees, plan administrators, disbursing agents and other entities in bankruptcy reorganizations, liquidation proceedings and bankruptcy-related litigation.

Mr. Ramsey also has experience handling complex civil litigation matters in both state and federal courts and in alternative dispute resolution settings, including arbitration and mediation. His business litigation experience includes contract disputes, business torts, breach of fiduciary duties, officer and director liabilities, and other general litigation matters.

Mr. Ramsey is admitted to practice in Tennessee, Florida and Georgia, and before the U.S. District Courts for the Middle, Northern and Southern Districts of Florida, the Northern and Middle Districts of Georgia and the Eastern District of Michigan, and the U.S. Court of Appeals for the Eleventh Circuit.

Mr. Ramsey received his B.A. magna cum laude in 2003 from the University of Tampa and his J.D. with high honors in 2006 from Florida State University College of Law, where he was a member of the Order of the Coif and a senior articles editor of the Florida State University Law Review.

Similar Courses

Card image cap
77 minutes
§ 363 Sale Issues
Dive into Section 363 sales issues, including whether there are limits to “free and clear”; the GM conflict between Sections 365(h) and 363(f) (“lease-stripping”); sales free and clear of leasehold interests, restrictive covenants and override royalties; being free and clear of successorships in CBAs; selling free and clear of environmental liabilities (La Paloma, Exide); and loan-to-own strategies.

American Bankruptcy Institute


Add to Cart
Card image cap
63 minutes
2018 CA Consumer Privacy Act: The Big Tail Wagging the U.S.
In this session, two leading information governance attorneys will share why you need to and how you can be ready.



Add to Cart
Card image cap
63 minutes
A Collision of Complex Laws: The Interplay Between and Among State and Federal Regulatory Laws in Health Care Cases
This program will probe how state, federal and local laws affect health care bankruptcy cases. The program will address such regulatory schemes as ERISA, state and federal labor laws (with a focus on union issues), state local health care laws, and requisite approval processes for the sale of health care assets and state and local laws concerning reimbursement programs and other aid for the benefit of health care institutions. The program will feature speakers with experience in state, federal and local regulatory laws along with health care insolvency professionals.

American Bankruptcy Institute


Add to Cart
Card image cap
62 minutes
A Day in the Life of a General Counsel
What is really driving their decisions, how are they spending their time, how is the business side impacting their work and how are they structuring their departments.



Add to Cart
Previous Next