Key Takeaways Bank Receiverships Week Two

Foley & Lardner LLP is closely monitoring the rapidly changing landscape surrounding the recent bank insolvencies.

On Tuesday, March 21, at 5:00 p.m. CT, Foley hosted a webinar where a panel of presenters discussed the latest updates and practical considerations regarding Bank Receivership.

Below are the key takeaways from our timely discussion:

Cash management policies should be front and center with Directors and officers. Boards should receive information necessary to make a reasoned decision that the company's cash management policies are sufficient and associated risks are reasonably addressed. In the event of litigation, a court will be looking to determine whether the Board and officers reviewed information necessary to make a reasoned decision and directed a reasoned approach that balances the different risks arising from this issue.