PORTLAND – The Maine Satellite Chapter of the Turnaround Management Association of New England Inc. will hold a panel discussion on the changing role of directors in failing companies. It will be held from 8 to 9:30 a.m. Jan. 22 at the Doubletree Hotel in Portland

Allegations of mismanagement and failure to act responsibly made against individual officers and directors in some recent high profile business failures have highlighted the issue of directors’ and officers’ fiduciary duty to their company and other constituencies.

This duty may shift from profit maximization for shareholders in a healthy company to asset preservation for creditors when failure becomes more and more likely.

Panelists will include Jacob A. Manheimer from the law firm of Pierce Atwood; certified public accountant Amand P. Lucarelli, a turnaround practitioner from Capital Restoration, LLC; Christine Hughes, general counsel from the New England Legal Foundation; and Judith A. Kokinda of Albert Risk Management Consultants.

Registration, which includes a continental breakfast, is $20 in advance for association members, $30 in advance for nonmembers and $35 at the door. Registration information is obtainable by calling (978) 263-5718 or by contacting TMA Chapter Administrator Liza Cormier at [email protected] or visiting the organization’s Web site at www.tmanortheast.org.

The Maine Satellite Chapter was formed to provide a forum for the growing number of area professionals, including lawyers, bankers, accountants and turnaround consultants, who are involved in working with troubled companies.