News & Analysis as of

Financial Institutions Insolvency

A&O Shearman

Sanction for scheme of arrangement refused by Hong Kong court: Key takeaways

A&O Shearman on

Notwithstanding that the requisite statutory majority was obtained in the relevant creditors’ scheme meeting, the Hong Kong Companies Court refused to sanction a scheme of arrangement propounded by a company that professed to...more

White & Case LLP

South African Bank and Bank Controlling Company Flac Instruments: Contractual Recognition of the South African Reserve Bank’s...

White & Case LLP on

The Prudential Authority of South Africa (the "Prudential Authority") published Draft Prudential Standard RA03 entitled "Flac Instrument Requirements for Designated Institutions" (the "Draft Flac Standard") in December 2023...more

Kilpatrick

First Republic Executives Fail in Attempt to Recover Nonqualified Deferred Compensation Plan Assets

Kilpatrick on

A federal court has rejected an attempt by former First Republic Bank employees to recover assets held in a rabbi trust that funded deferred compensation benefits. In Harrington v. Federal Deposit Insurance Corporation, the...more

A&O Shearman

Insolvency vs Arbitration – Privy Council’s revival of the “Established Approach”

A&O Shearman on

How does an arbitration clause, or an exclusive jurisdiction clause in favour of foreign courts, affect insolvency proceedings? The effect of an arbitration clause, or an exclusive jurisdiction clause in favour of foreign...more

Conyers

Regulatory & Risk Advisory Review: Cayman Islands - April to June 2024

Conyers on

Welcome to the second instalment of 2024 of the Regulatory & Risk Advisory Review. In this edition we cover several Cayman Islands regulatory updates including updates to the Beneficial Ownership Transparency Act, the...more

A&O Shearman

UK Legal Statement on Digital Assets and English Insolvency Law

A&O Shearman on

The UK Jurisdiction Taskforce (UKJT) has published a Legal Statement on Digital Assets and English Insolvency Law. The main findings are that digital assets are within the definition of "property" in the U.K. Insolvency Act...more

American Conference Institute (ACI)

[Event] Crypto and Digital Asset Fraud & Recovery - April 25th - 26th, South Kensington, London, United Kingdom

Don’t miss out on the 2nd Annual Crypto and Digital Asset Fraud & Recovery – London conference, the premier gathering for the Digital Asset Fraud community! Stay ahead in this dynamic field by joining C5 in London to delve...more

J.S. Held

Lending Climate in America – 1st Quarter 2024 Survey

J.S. Held on

With inflation continuing to impact the US economy, lenders are focused on the economic impact of the presidential election in November. Lenders’ expectations for the US economy’s performance in the longer term – beyond the...more

Mayer Brown

UK Government consults on new rules to recapitalise small banks in resolution – What does this mean for potential buyers of...

Mayer Brown on

What is the government proposing? The UK government (“HM Treasury”) has launched a Consultation setting out its proposals to amend the UK special resolution regime (“SRR”) to direct that the UK depositor guarantee scheme...more

Jones Day

The Year In Bankruptcy: 2023

Jones Day on

One year ago, we wrote that 2022 would be remembered in the corporate bankruptcy world for the "crypto winter" that descended in November 2022 with the spectacular collapse of FTX Trading Ltd., Alameda Research, and...more

Alston & Bird

European Enforcement Guide

Alston & Bird on

In the current economic climate, it is important that lenders understand how they can enforce security and debt claims, to help in assessing options in the event of default by their customers, and when structuring new...more

Conyers

Beyond the Betrayal: Navigating Strategies for Victims of APP Fraud

Conyers on

Authorised Push Payment (“APP”) fraud, where victims are tricked into authorising payments to fraudsters, resulted in losses of £485.2m in 2022 and is reported to have risen by 22% in 2023. With consumer protection laws...more

Perkins Coie

Arrowood Indemnity Company Declared Insolvent

Perkins Coie on

Arrowood Indemnity, the runoff entity for Royal Indemnity and Royal Globe (Royal), was declared insolvent by the Delaware commissioner of insurance on November 6, 2023. This action was taken through the filing of a complaint...more

Jones Day

FDIC Proposes Toughening CIDI Resolution Plan Rules

Jones Day on

In Short - The Situation: The Federal Deposit Insurance Corporation ("FDIC") has proposed significant amendments (the "Proposal") to its rule requiring covered insured depository institutions ("CIDIs") to prepare and file...more

American Conference Institute (ACI)

[Event] Fraud, Asset Tracing & Recovery - October 26th - 27th, Paris, France

Hosted by C5 Group, the inaugural Fraud, Asset Tracing & Recovery – Paris event will launch in Europe this fall and will feature networking formats and practitioners from across the EU and key offshore jurisdictions....more

Foley Hoag LLP

The SVB Bankruptcy Decision and Its Lessons for D&O Insurance Programs

Foley Hoag LLP on

Directors and Officers (D&O) policies are intended first and foremost to protect a company’s individual directors and officers from significant claims which may be asserted against those individuals in their capacities as...more

Awatif Mohammad Shoqi Advocates & Legal...

Law & Regulations Governing Businesses in the Dubai International Financial Centre (DIFC)

The Dubai International Financial Centre (DIFC) is a prestigious financial free zone in the United Arab Emirates (UAE), established to diversify Dubai's economic resources and attract capital and investments to the region....more

Morgan Lewis

English High Court Takes ‘More Nuanced Approach’ to Difference Between Fixed and Floating Charges

Morgan Lewis on

The English High Court provided guidance on 25 April 2023 in Re Avanti Communications Limited to determine whether a charge is a fixed charge or a floating charge. The distinction between a fixed charge and a floating charge...more

Holland & Knight LLP

Se publicó la resolución que modifica disposiciones de instituciones de crédito en México

Holland & Knight LLP on

Se publicó en el Diario Oficial de la Federación el 17 de abril de 2023 la resolución que modifica las disposiciones de carácter general aplicables a las instituciones de crédito la cual entrará en vigor el 1 de octubre de...more

Hogan Lovells

Beware the Ides of March – practical considerations if your bank is failing

Hogan Lovells on

Everybody knows that, logically, banks can fail. Few expect them to. Silicon Valley Bank (SVB), the U.S.’s 16th largest bank, was closed on 10 March 2023, and the Federal Deposit Insurance Corporation (FDIC) appointed as...more

Cadwalader, Wickersham & Taft LLP

SVB Financial Group Chapter 11 Case – Issues with the FDIC May Be Front and Center

As many parties expected, on March 17, 2023 SVB Financial Group (“SVB Financial” or the “Debtor”) the holding company for Silicon Valley Bank, commenced a case under chapter 11 of the United States Bankruptcy Code (the...more

Foley & Lardner LLP

Mexico: Some Key Issues to Watch in a Financially Stressed Environment

Foley & Lardner LLP on

Following the bank receivership of Silicon Valley Bank (SVB) and similar situations with other stressed financial institutions in the U.S. and Europe, companies are concerned with their international assets and credits held...more

Nelson Mullins Riley & Scarborough LLP

Navigating the Business Landscape After Silicon Valley Bank and Signature Bank - Key Questions and Answers for Companies,...

Start-up, emerging, middle market and other companies and their founders, executives, and investors, are facing heightened demands in the wake of recent developments involving Silicon Valley Bank (SVB) and Signature Bank. You...more

Jackson Walker

An Overview of US Government Actions After Closures of Silicon Valley Bank and Signature Bank

Jackson Walker on

Below is a brief synopsis of the failures of Silicon Valley Bank (“SVB”) and Signature Bank, NA (“Signature Bank”) and the actions taken by the U.S. government in response to these failures. Silicon Valley Bank...more

Foley Hoag LLP

SVB Closure: Public Company Disclosure Considerations

Foley Hoag LLP on

Since Friday, March 10, 2023, more than 300 public companies have filed current reports on Form 8-K regarding the closure of Silicon Valley Bank ("SVB"). Company disclosure in these 8-Ks falls essentially into four...more

90 Results
 / 
View per page
Page: of 4

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide