Our October 2010 DechertOnPoint “FDIC Begins Action on Its Super-Resolution Rules for Covered Financial Companies” discussed how systemi-cally significant non-bank financial companies (“covered financial compa-nies”) may find themselves in unknown territory if the FDIC is appointed re-ceiver for them.
USA, Banking, Insolvency & Restructuring, Dechert LLP, Security (finance), Board of directors, Personal property, General counsel, Good faith, Securities Industry and Financial Markets Association, Federal Deposit Insurance Corporation (USA), Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 (USA), Title 11 of the US Code
The automatic stay is one of the most fundamental bankruptcy protections. It enjoins the initiation or continuance of any action by any creditor against the debtor or the debtor’s property, including causes of action possessed by the debtor at time of the bankruptcy filing. The automatic stay offers this protection while bringing all of the debtor’s assets and creditors into the same forum, the bankruptcy court.
USA, New York, Capital Markets, Insolvency & Restructuring, Litigation, White Collar Crime, Chadbourne & Parke LLP, Bankruptcy, Debtor, Injunction, Fraud, Class action, Limited liability company, Liquidation, Conveyancing, Investment company, Securities fraud, Securities Investor Protection Corporation, Racketeer Influenced and Corrupt Organizations Act 1970 (RICO) (USA), Trustee, United States bankruptcy court