The In Pari Delicto Defense to Bankruptcy and Other Claims Against Directors, Officers, and Third Parties
Anticipating or Raising the Defense in Bankruptcy and Other Asset Recovery Litigation
- What are the trends in asset recovery litigation in which the in pari delicto defense may apply, and what are the conventional theories of liability?
- Is the in pari delicto defense or an asserted lack of standing a problematic obstacle to filing suit against professionals and professional firms who represented the distressed or insolvent company, or against banks and other third-party non-professionals alleged to have been complicit in the wrongdoing?
- What are some of the best arguments for and against the application of the defense?
- What are the most recent developments in case law?