Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[Philter1972]

Some good detail in here about the concerns of BOD resignations during BK...

Some have suggested ill will of execs. and BOD.. This paragraph was interesting... No to imply that is what I believe is happening but if there was indiscretion going on this could be a clue..

There Are Occasions Which Dictate That a Board Member Should Resign: If the board member is aware that other members of the board, or management, are committing fraud and not willing to correct the problem, then the board member should resign. Failure to do so could result in that individual being considered a part of the fraudulent conduct. In these rare circumstances, the board member also needs to establish a record by voicing his or her concerns in a formal written letter prior to resignation.

Board memeber resignation during BK