It is common for public sector entities to acquire a right to appoint a director to the board of a private company, whether in a fully solvent situation or a more distressed one where the public sector entity is providing some form of assistance. At all times, you much bear in mind the duties and obligations that attach to the role of director.
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Latest articles from Catriona Kemp
It is not uncommon for businesses that public sector entities are in contract with to face financial difficulties during the life of the contractual arrangements. Should that body provide financial assistance and/or some other type of relief to the distressed counterparty or let fate take its course? Here we look at some key commercial considerations to be taken into account.