On December 10, 2012, the Federal Deposit Insurance Corporation (“FDIC”) and the Bank of England (“BoE”) released a joint paper entitled “Resolving Globally Active, Systemically Important, Financial Institutions” outlining a resolution strategy for global systemically important financial institutions.

The U.S. Senate confirmed two new antitrust enforcers in recent days. On Sunday, December 30, 2012, the Senate confirmed William J. Baer to serve as Assistant Attorney General in charge of the Department of Justice’s Antitrust Division.

In this Report: As of January 2, 2013, a total of 237 Dodd-Frank rule-making requirement deadlines have passed. Of these 237 passed deadlines, 142 (59.9%) have been missed and 95 (40.1%) have been met with finalized rules.

With litigation now an inevitable feature of the deal landscape, boards evaluating the sale of their company would be well-advised to understand the variety of claims that are being made by plaintiffs in these cases, and in particular those that have gained traction with the courts.

This Alert discusses the 7th Circuit’s recent decision in Wellness Int’l Network Ltd. v. Sharif, which added to the split of authority that has developed since the Supreme Court’s decision in Stern v. Marshall.

Kirkland & Ellis is pleased to announce that former U.S. Securities and Exchange Commission Enforcement Director Robert Khuzami has joined its Government, Regulatory & Internal Investigations Practice Group as a partner based in the Washington, D.C., and New York offices.

On August 23, the Second Circuit issued its long-awaited opinion on Argentina’s appeal from the Southern District’s amended injunction requiring that Argentina make “ratable payment” to the plaintiffs when it next makes payment to holders of its Exchange Bonds.

On July 24, 2013, Judge Steven W. Rhodes of the Bankruptcy Court for the Eastern District of Michigan approved the City of Detroit’s motion to extend the automatic stay to various non-debtor parties, including certain state officials. The Court’s ruling effectively stays all pending litigation against the City, allows the City to continue to move forward with its chapter 9 case, and paves the way for a dispute over the City’s eligibility to file for chapter 9.

Debtor Migration: Intercontinental, Inter-District and Back (2013 ABI Northeast Bankruptcy Conference) - Kenneth S. Leonetti, Jeanne P. Darcey, Hon. J. Michael Deasy, Francisco Vazquez and Daniel M. Glosband

THE INTERNATIONAL SCENE: Second Circuit Clarifies Chapter 15 COMI Analysis (citation: William T. Reid, IV and R. Adam Swick, Second Circuit Clarifies Chapter 15 COMI Analysis, XXXII ABI Journal 6, 54-55, 91, July 2013) - R. Adam Swick and William T. Reid IV