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Results: 1-10 of 47

Recent developments in acquisition finance
  • Dechert LLP
  • USA
  • March 3 2014

A recent decision of the U.S. Bankruptcy Court for the Southern District of New York examines who is an "Eligible Assignee" entitled to acquire loans


Claims under TBA contracts do not qualify as customers’ claims in broker-dealers’ liquidation
  • Dechert LLP
  • USA
  • December 19 2011

Judge James M. Peck of the United States Bankruptcy Court for the Southern District of New York on December 8, 2011 issued an opinion on a motion of the Lehman Brothers Inc. (“LBI”) trustee (“Trustee”) to confirm his determination that certain claims relating to settled on delivery-versus-payment “to be announced” (“TBA”) contracts do not qualify as customer claims against the LBI estate and therefore are not entitled to Securities Investor Protection Act (“SIPA”) coverage


The new UK insolvency regime for investment firms
  • Dechert LLP
  • United Kingdom
  • August 24 2011

In this DechertOnPoint, we summarise HM Treasury’s work to establish effective resolution arrangements for investment banks and firms, which resulted in the introduction of a special administration regime (“SAR”) earlier this year


FDIC issues opinion clarifying treatment of securitizations by financial companies subject to resolution under Title II of the Dodd-Frank Act
  • Dechert LLP
  • USA
  • January 3 2011

Our October 2010 DechertOnPoint "FDIC Begins Action on Its Super-Resolution Rules for Covered Financial Companies" discussed how systemically significant non-bank financial companies ("covered financial companies") may find themselves in unknown territory if the FDIC is appointed receiver for them


Ninth Circuit Reverses Itself on Payment of Default Interest in Cure Cases
  • Dechert LLP
  • USA
  • November 14 2016

Circuit held that when a chapter 11 debtor cures a default under its loan agreements, the debtor is required to pay default interest as required by


D&Os - Be Aware of Creditor Exclusion in Your Insurance Coverage
  • Dechert LLP
  • USA
  • October 11 2016

The U.S. Court of Appeals for the Fifth Circuit recently held that a Creditor Exclusion provision in D&O insurance coverage may result in significant


FDIC brings second action against directors or officers of failed banks
  • Dechert LLP
  • USA
  • November 16 2010

Industry observers have been waiting to see when bank failures arising out of the recent financial crisis would produce a wave of Federal Deposit Insurance Corporation ("FDIC") litigation similar to that seen in the early 1990s after the savings and loan crisis


FDIC begins action on its super-resolution rules for Covered Financial Companies
  • Dechert LLP
  • USA
  • October 20 2010

Title II of the Dodd-Frank Act establishes a new non-judicial receivership alternative for resolving troubled financial companies that could threaten the stability of the U.S. financial system (“Covered Financial Companies”), as described further below


Recent developments in acquisition finance
  • Dechert LLP
  • USA
  • July 18 2012

There have been some important recent legal developments that will likely impact acquisition finance


Legal uncertainty in CASS and arising from the Lehman Brothers litigation
  • Dechert LLP
  • United Kingdom
  • November 18 2011

The respected Financial Markets Law Committee sponsored by the Bank of England has published a paper, dated October 2011, containing an analysis of legal uncertainty in the FSA’s Client Assets Sourcebook (CASS) and arising from judicial decisions relating to the administration of Lehman Brothers International (Europe