Are they afraid of being sued ? Already protecting themselves against liabilities and insolvencies.
pwc point 82
Nemaska proposes to indemnify its directors and officers by way of Directors and Officers Charge (“D&O Charge”), for certain liabilities incurred by Nemaska that may result in post-filing claims against the directors and officers in their personal capacities.
83.The amount of the D&O Charge is capped at $1M and was estimated by Nemaska and its advisors, in consultation with PwC, taking into consideration hourly and salaried payroll costs and vacation pay from time-to-time during the CCAA period.
84. Although the Directors and Officers of the Applicants benefit from directors and officers liability insurance policies, such policies expire on December 24, 2019, and it is anticipated by the Debtors that they will likely be renewed with significantly reduced limits in addition to important exclusions, including insolvency proceedings.
are they protecting their backs already.? Expecting insolvency proceedings .how nice it is when you are to dictate the rules .you never lose .
Insurance against being sued for being a crook.