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Practical aspects of NPLs and REOs portfolio deals in Spain
  • DLA Piper
  • Spain
  • September 23 2016

Any discussion of distressed assets will, almost certainly, feature Spain. In a country where house ownership is around 80 per cent, and in which more

Brexit: impact on restructuring and insolvency for credit institutions
  • Morrison & Foerster LLP
  • United Kingdom, European Union
  • July 7 2016

The process of Brexit will take many years, and the implications for our clients’ businesses will unfold over time. Our MoFo Brexit Task Force is

The application of the banking recovery & resolution directive in practice so far
  • Schulte Roth & Zabel LLP
  • European Union
  • September 3 2015

In our Alert of this time last year,1 we predicted that the broad powers given under the Banking Recovery and Resolution Directive2 (the 'BRRD') to

The Austrian ‘bad bank’ Heta Asset Resolution AG: a test case for the 2014 Banking Recovery and Resolution Directive?
  • Schulte Roth & Zabel LLP
  • Austria, European Union
  • March 13 2015

In an August 2014 Alert, we reported that (most of) the Banking Recovery and Resolution Directive ('BRRD') that was adopted on 15 May 2014 was

Spain's FABs: a new vehicle for investment in assets disposed by the bad bank
  • Jones Day
  • Spain
  • September 9 2013

During August 2013, the Spanish bad bank (Sociedad de Gestión de Activos Procedentes de la Reestructuración Bancaria, S.A., or "SAREB")

The government responds to the Parliamentary Commission on Banking Standards report
  • CMS Cameron McKenna Nabarro Olswang LLP
  • United Kingdom
  • July 12 2013

The Government has published its response to the Parliamentary Commission on Banking Standards (the Commission) report 'Changing banking for good'

Expropiation of the domain name sareb.es
  • Abril Abogados
  • Spain
  • January 31 2013

The Sareb (Sociedad de Gestión de Activos Procedentes de las Reestructuración Bancaria) - also colloquially known as the “bad bank” - was created last

The asset management company or “bad bank”
  • Squire Patton Boggs
  • Spain
  • October 1 2012

On 31 August 2012 Royal Decree-Act 242012 on the restructuring and resolution of credit institutions was passed in which, following months of conjecture, first on whether the socalled “bad bank” would be created in Spain and, second, the terms of its creation, the existing doubts have only been partially clarified.

Delaware Chancery Court permanently enjoins "good bankbad bank" sale
  • Herrick Feinstein LLP
  • USA
  • April 27 2012

The Delaware Chancery Court permanently enjoined the sale of a bank holding company's subsidiary after finding that the sale would violate certain indenture debt covenants prohibiting the bank holding company from selling all or substantially all of its assets in instances where the purchaser would not assume the debt.

Court of Chancery permanently enjoins sale that would violate trust indentures
  • Paul Weiss
  • USA
  • March 12 2012

In In re BankAtlantic Bancorp, Inc. Litig., the Delaware Court of Chancery permanently enjoined the acquisition of BankAtlantic, a federal savings bank (“BankAtlantic”), from its bank holding company parent BankAtlantic Bancorp (“Bancorp”) by BB&T Corporation because the transaction would run afoul of the standard successor obligor provisions of the indentures related to Bancorp's trust preferred stock (“TruPS”).