%0 Journal Article %A Michael J. Epstein %T Furthering Insolvency %B How Did We Get Here from There? %D 2003 %J Special Issues %P 46-49 %V 2003 %N 2 %X In the near term, we should expect to see an increase in directors and officers (D&O) litigation surrounding business failures. The most visible activity will result from claims against directors over not having protected all stakeholders, while pursuing the interests of investors. In this era of heightened concern with corporate governance, directors must be well advised of their responsibilities and the consequences of their actions and inactions. Remember the business judgment rule means that you should use good business judgment and focus on business fundamentals. You should exercise the duties of loyalty, good faith, and reasonableness. Directors must monitor more than shareholder value: They are responsible for assuring that management operates on sound business principles, generates not only earnings but also sustainable positive cash flow, and acts deliberately to press management for change when appropriate. %U https://guides.pm-research.com/content/iijspecial/2003/2/46.full.pdf