Special Litigation Committee (SLC),
What is The Definition of Special Litigation Committee (SLC)?
If the Board of Directors is challenged by a derivative dispute between the shareholders, it may form a dedicated independent litigation committee to determine whether to proceed with the derivative dispute against the administrator or not. Whether the termination is in the company's interest. The SLC is the last time a derivative claim for a company is considered when the majority of its directors do not view the claim objectively. The board delegates its authority to a committee of independent directors to decide what to do with the process. If the SLC recommends suspension of secondary proceedings, the courts generally defer the recommendation if the committee can show that its members are independent, act in good faith, and reconsider their findings. Have reasonable grounds.
Literal Meanings of Special Litigation Committee (SLC)
Meanings of Special:
Better, taller or different than usual.
Something like an event, product or show was designed or organized for a specific event or purpose.
Sentences of Special
They always work hard at Christmas
Election night special
Synonyms of Special
marked, exceptional, singular, remarkable, unique, notable, noteworthy, outstanding, unusual, uncommon, particular, extra special
Meanings of Litigation:
Sentences of Litigation
Businesses want to avoid litigation
Synonyms of Litigation
suit at law, prosecution, legal contest, case, legal action, legal proceeding, judicial proceedings, bringing of charges, action, indictment, judicial proceeding, legal proceedings, legal case, legal dispute, trial, suit, cause, legal process, lawsuit
Meanings of Committee:
A group of people assigned to a particular role are usually members of a larger group.
Someone who is responsible for the care of others or the property of others.
Sentences of Committee
Synonyms of Committee
jury, council, advisory group, board, team, commission, group, committee, body