The insolvency challenge rights give the insolvency administrator, under certain prerequisites, access to assets which the debtor disposed of to the detriment of the creditors prior to the filing for insolvency, thus increasing the insolvency estate.
The US Federal Deposit Insurance Corporation (FDIC) and the Board of Governors of the Federal Reserve System (FRB) have jointly approved a proposed rule requiring certain companies to periodically submit Resolution Plans (also referred to as “living wills”) and Credit Exposure Reports (the “Proposed Rule”) to the FRB and FDIC.1
There are today at least 2,352 different types of cryptocurrencies being traded on various exchanges1. As legislators, regulators, financial institutions, and other businesses have been seeking to understand the opportunities and risk presented by cryptocurrencies, smart contracts, and other fast-moving Fintech developments since the launch of Bitcoin around 10 years ago, on 18 November 2019 the UK Jurisdiction Taskforce of the Lawtech Delivery Panel published a Legal Statement2 in relation to cryptoassets and smart contracts, following a period of public con
German Insolvency Law
an overview.
The Federal Deposit Insurance Corporation (FDIC) has announced that the agenda for its board meeting next Tuesday, January 18, 2011, will include discussion regarding a “Final Rule Implementing Certain Orderly Liquidation Authority Provisions of the Dodd-Frank Act.”
Prepayment premiums (also referred to as make-whole premiums) are a common feature in loan documents, allowing lenders to recover a lump-sum amount if a borrower pays off loan obligations prior to maturity, effectively compensating lenders for yield that they would have otherwise received absent prepayment. As a result of the widespread use of such provisions, three circuit courts of appeal – the U.S. Court of Appeal for the Second, Third and Fifth Circuit – have recently had to address the enforceability of prepayment provisions in bankruptcy.
Czyzewski v. Jevic Holding Corp., No. 15-649
A Chapter 11 bankruptcy is implemented through a plan that assigns allowed claims to classes of different priority levels. Unsecured claimants without priority are not entitled to any payment on their claims until all priority claims have been satisfied.
Crises of credit and financial institutions are currently the order of the day.
The first half of 2019 continues a long growth rally for the fund finance market, with fund finance deal volume at Mayer Brown significantly up from last year. This growth occurred despite a three-year decline in the number of final fund closings.1 This apparent contradiction can be explained both by the penetration of traditional subscription credit facilities into a broader range of fund types and the diversification of fund finance product offerings in the market (including a notable uptick in the number of hybrid facility and net asset value credit facility closings).
On February 17, 2016, the Federal Deposit Insurance Corporation (“FDIC”) and the Securities and Exchange Commission (“SEC”) (collectively, the “agencies”) jointly proposed a rule to supplement the statutory provisions of Title II of the Dodd-Frank Act (the “Orderly Liquidation Authority” or “OLA”) that govern the orderly liquidation of a “covered broker or dealer”—i.e., an SEC-registered broker or dealer that is a member of the Securities Investor Protection Corporation (“SIPC”) and for which a systemic risk determination to trigger the application of the OLA has been made.