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Zohar Says Independent Director Indemnification Is Critical

Law360, Wilmington (June 19, 2018, 10:26 PM EDT) -- The Zohar Funds bolstered their case in support of a retention agreement for an independent director Tuesday, telling a Delaware court that the person selected to oversee monetization of the bankrupt distressed company investment vehicle's assets should be given protection from litigation in the form of indemnification.

In a reply supporting a retention agreement for independent director Joseph J. Farnan Jr., Zohar said the history of the case and of the debtors’ legal issues weighs heavily in favor of the indemnification protections that would cover his...
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