Major advances in cross-border insolvency protocols: Lehman Bros. and Madoff Securities

From modest beginnings, the concept of Cross-Border Insolvency Protocols as a means of enhancing cooperation between administrations in international cases has become an established practice in major cases. From their origins in the International Bar Association’s Cross-Border Insolvency Concordat through the early Protocols in Maxwell Communication and Everfresh Beverages, Protocols have become a mainstay in international reorganizations and restructurings.

Filed under:
Global, USA, Insolvency & Restructuring, Litigation, Cassels Brock & Blackwell LLP, Security (finance), Liquidation, Common law, Communications protocol, Subsidiary, International Bar Association, Lehman Brothers, United States bankruptcy court
Authors:
Bruce Leonard
Location:
Global, USA
Firm:
Cassels Brock & Blackwell LLP
Arbitration and insolvency law in Dubai— is there a link?

Dubai currently has no effective insolvency law. Try to imagine it: How would creditors recover their entitlements? Does it lead to more arbitration activity? Does it explain why the Dubai International Arbitration Centre received more than 300 new cases last year and why arbitration is increasingly used?

Insolvency Law—Is It Necessary?

Filed under:
United Arab Emirates, Arbitration & ADR, Insolvency & Restructuring, Mayer Brown, Bankruptcy, Margin (finance), Debt, Liability (financial accounting), Intangible asset, International Bar Association
Authors:
Raid Abu-Manneh , Jeremy Snead
Location:
United Arab Emirates
Firm:
Mayer Brown