Being on the board of directors of a corporation that is facing insolvency can be a stressful and challenging experience. Directors will have concerns as to the scope of their personal liability and how their duties and obligations may change. This paper provides a high-level discussion on the legal duties of directors prior to and leading up to an insolvency.

This paper is part of a collection presented at LESA’s Bankruptcy and Insolvency Essentials program in Edmonton on March 15, 2023.