Recent Developments
Recent Developments
Recent Developments
Global—On 26 October 2012, the U.S. Court of Appeals for the Second Circuit, in a ruling that may impact sovereign debt restructurings, upheld a lower court order enjoining Argentina from making payments on restructured defaulted debt without making comparable payments to bondholders who did not participate in the restructuring.
Recent Developments
Recent Developments
As we reported earlier in the week, the Federal Deposit Insurance Corporation ("FDIC") has begun filing lawsuits against the directors and officers of banks that it now holds in receivership . The lawsuits are consistent with previous public statements in which the FDIC committed to try to recover, from the directors and officers of these failed banks, some of the $2.5 billion lost to bad loans in recent years.