Global Financial Crisis

Navigating and Understanding the Legal and Regulatory Aspects

Edited by Eugenio A Bruno

Publication date:

01 September 2009

Length of book:

509 pages

Publisher

Globe Law and Business

Dimensions:

240x160mm
6x10"

ISBN-13: 9781905783328

Global Financial Crisis: Navigating and Understanding the Legal and Regulatory Aspects is a new major work addressing many of the legal issues related to the crisis that has rocked the international financial system and affected the whole range of financial participants, transactions and instruments. Written by leading practitioners and renowned academics, this new title provides an in-depth analysis of aspects of the intersection between the financial crisis and the law and practice of selected key jurisdictions, including Argentina, Bermuda, Brazil, Cayman Islands, Germany, Iceland, India, Italy, Japan, Luxembourg, Mexico, the Netherlands, Russia, Spain, the United Kingdom and United States. In particular, the book examines: •the main cases of financial restructuring arising from the crisis, including Lehman Brothers, AIG and the situation in Iceland; •the banking laws and regulations enacted to deal with the financial system and bank rescues; •the law and practice of the brokerage business in the context of the crisis; •the legal challenges affecting offshore investment funds; •the legal aspects of corporate and sovereign default and restructurings; and •litigation arising from the crisis involving governments, bank shareholders, officers and managers, depositors and creditors, investment fund managers and investors, corporations, sovereigns and their bondholders. This authoritative title provides legal practitioners, academics, financial agents, financial institution officers, investment analysts and managers, investors and officials of regulatory agencies with the information they need to navigate their way through the challenges arising from one of the most significant financial crises in recent history.

Introduction Eugenio A Bruno Nicholson & Cano The Institute Global Part I: Financial and banking system Current financial crises and rescue packages Cases of restructurings of financial institutions in the United States: Fannie Mae and Freddie Mac, Lehman Brothers and AIG Jose Bermudez Eduardo Vidal Hughes Hubbard & Reed LLP Central banking, financial regulation and property rights Timothy Congdon International Monetary Research Ltd The EESA and related measures Michael Bopp Nikesh Jindal Cantwell F Muckenfuss Gibson, Dunn & Crutcher Robert C Eager Potomac Banking Consulting Germany Christina Ungeheur Latham & Watkins LLP The Iceland case Ze’ev D Eiger James R Tanenbaum Morrison & Foerster LLP The Netherlands: Financial crisis and governmental response William (Pim) Rank NautaDutilh Part II: M&A, restructuring and liquidation of financial institutions Law and practice of bank restructuring in Argentina Eugenio A Bruno Nicholson & Cano The Institute Global Acquitision and restructuring of Brazilian banks Jose Carneiro Quiros Mattos Filho Germany Marc Benzler Anja Breilmann Clifford Chance M&A of financial institutions in India post the financial crisis Cyril Shroff Amarchand & Mangaldas & Suresh A. Shroff & Co. M&A, restructuring and liquidation of financial institutions in Italy Maria Chiara Cieri Marcello Gioscia Gianluigi Pugliese Ughi e Nunziante Russia Max Gutbrod Baker & McKenzie-CIS, Limited Restructuring and liquidation of financial institutions: Spain Jesus Mardomingo Cozas Fernando Minguez Hernandez Cuatrecasas, Gonçalves Pereira M&A, restructuring and liquidation of financial institutions in the UK Chris Ashworth Lovells LLP Restructuring and liquidation of US financial institutions Randall D Guynn John L Douglas Davis Polk & Wardwell Part III: Intermediaries, investment managers and private investment funds Prime-brokerage regulation Melissa D Beck Anna T Pinedo Morrison & Foerster LLP Main issues affective private investment funds: Luxembourg Isabelle Lebbe Myriam Moulla Arendt & Medernach Main offshore issues in a financial crisis Bermuda Alex Potts Paul Smith Anthony D Whaley Conyers Dill & Pearman BVI Martin A Litwak Nadia Menezes Ogier Law of US broker-dealer insolvency and liquidation Elliot R Curzon Dechert LLP Part IV: Restructuring and Insolvency Impact of current market conditions on covenants under senior secured credit agreements Michael S. Baker Jinho Joo Steven E. Sherman Maura E O’Sullivan Shearman & Sterling LLP Restructuring cross-border syndicated loans Richard R Cooper Dalmau García Cleary Gottlieb Steen & Hamilton LLP Cross-border debt restructurings Eugenio A Bruno Nicholson & Cano The Institute Global Restructuring of a project finance transaction Dino T Barajas Morgan, Lewis & Bockius LLP Japan Tatsu Katayama Anderson Mori & Tomtsune Cases of corporate debt restructurings in Latin America: the Argentine experience 2002-2006 Eugenio A Bruno Nicholson & Cano The Institute Global Mexico Carlos Aiza Rodrigo Castelazo Creel, García-Cuéllar, Aiza y Enríquez, S.C. Debt Restructurings and U.S. Securities Laws: An Overview Juan G. Giráldez Carlos von der Heyde Cleary Gottlieb Update on issues under Chapter 11 of the US Bankruptcy Law Adam J Goldberg Michael J Riela Robert J Rosenberg Latham & Watkins Cross-border jurisdiction of US bankruptcy laws Mary Rose Brusewitz John Rogers Strasburger & Price, LLP Part V: Finance Litigation Securities and bank litigation Litigation caused by the financial crisis in Germany Frank Herring Rudiger Litten Norton Rose United Kingdom Clare Canning Ruth Malone Mayer Brown International LLP US securities litigation in the financial crisis Ava Borrasso Hal M Lucas Astigarraga & Davis Sovereign Debt – Judicial Cases in the United States Oliver J Armas Thomas J Hall Chadbourne & Parke LLP

In sum, the thematic approach taken in this text enables detailed discussion of practical issues in these areas from the individual experience of the authors, drawn from the ranks of eminent academics and practitioners.