In the Margins

Economist questions failed companies' boards

May 12, 2016

By Forbes

There have been more than 69 bankruptcies among oil and gas producers since January 2015, events that lead to the wiping out of shareholders and money lost among bondholders and banks that provided senior debt, energy economist Ed Hirs writes in Forbes. "So what happens to the directors and senior management in those companies, the people who made the decisions that ultimately led to financial crisis and bankruptcy? In the United Kingdom, leading a company into bankruptcy generally leads directors and management team to jail. In the United States, that almost never happens," Hirs writes. Read the original piece from Forbes.

 

 

Most Read

10 Things
10 Things...to know about BDCs

Congress created business development companies in 1980 to support job growth and help emerging companies raise funds. As of 2023, there were 139 BDCs with $312 ...

Top of the Agenda - Succession
Vanguard nominates two, as two hit retirement

The Vanguard board expects to add two new independent directors in early 2025 to fill seats that will be vacated when two long-serving independents retire. The ...