“A narrow hole, but very, very deep.”
That’s how one leading bankruptcy lawyer described the Federal Deposit Insurance Corp.’s new power to take over and liquidate nonbank companies whose failure would jeopardize the financial system.
The Federal Deposit Insurance Corp.'s new power to take over and liquidate nonbank companies whose failure would jeopardize the financial system is intended as a "third way" between bankruptcy and bailout. But the prospect of a new regime for dissolving megacompanies -- one with almost no judicial oversight and in which creditors' rights are few -- is sending shockwaves through the bankruptcy bar. The FDIC is tackling nearly 40 major rulemakings to flesh out the details of the law, and Wall Street is waiting anxiously.
September 07, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
“A narrow hole, but very, very deep.”
That’s how one leading bankruptcy lawyer described the Federal Deposit Insurance Corp.’s new power to take over and liquidate nonbank companies whose failure would jeopardize the financial system.
Presented by BigVoodoo
Law firms & in-house legal departments with a presence in the middle east celebrate outstanding achievement within the profession.
The premier educational and networking event for employee benefits brokers and agents.
The Legal Intelligencer honors lawyers leaving a mark on the legal community in Pennsylvania and Delaware.
Atlanta s John Marshall Law School is seeking to hire one or more full-time, visiting Legal WritingInstructors to teach Legal Research, Anal...
Lower Manhattan firm seeks a premises liability litigator (i.e., depositions, SJ motions, and/or trials) with at least 3-6 years of experien...
Evergreen Trading is a media investment firm headquartered in NYC. We help brands achieve their goals by leveraging their unwanted assets to...
MELICK & PORTER, LLP PROMOTES CONNECTICUT PARTNERS HOLLY ROGERS, STEVEN BANKS, and ALEXANDER AHRENS