Directors of oil and gas companies, or those of companies with material exposure to the energy sector, face unprecedented challenges as they seek to guide their enterprises through a period of substantial market uncertainty. While the challenges corporate directors face are significant, the duties that they owe and the standards to which they are subject have not changed.
Directors should understand what their duties are and the positive steps they can take to ensure that they meet their duties and shield themselves from personal liability. They should also understand the options that may be available for the enterprises they manage to restructure or recapitalize to better position themselves to survive current market conditions.
This presentation will cover a wide range of topics to help directors navigate the current economic environment:
- fiduciary responsibilities, standards of care and strategies to meet those obligations
- directors’ exposure to personal liability and mitigation strategies
- formal and informal restructuring options
- de-leveraging and dealing with creditors
- reserve write-downs and impairments
- shareholder and bondholder activism
- hostile takeovers and defensive strategies