WHERE HAVE YOU GONE, CHIP HILTON?
The Central Bank of Ireland (the Central Bank) today published its long-awaited revised AIF Rulebook, consolidating and modernising the regulatory framework for Irish alternative investment funds (AIFs). The revised Rulebook...more
Mexico's infrastructure legal framework had not been meaningfully updated since the Law on Public-Private Partnerships (Ley de Asociaciones Público Privadas) of 2012—a rigid procurement model that lacked the flexibility to...more
Given the continued and growing interest in special purpose vehicles (“SPVs”) as a means of accessing private market investments, we are publishing a series of posts that examine different aspects of these structures. This...more
On March 19, 2026, the Draft Law for the Promotion of Investment in Strategic Infrastructure for Development with Social Welfare (the “Draft Law”) was submitted to the Chamber of Deputies (Cámara de Diputados) and has already...more
On April 9, 2026, Mexico’s Law for the Promotion of Investment in Strategic Infrastructure for Development with Well-being (Ley para el Fomento de la Inversión en Infraestructura Estratégica para el Desarrollo con Bienestar)...more
For the current federal administration in Mexico, infrastructure is an essential component for economic development and the promotion of well-being among the Mexican population. ...more
The Luxembourg Stock Exchange (LuxSE) Euro MTF Specialist Securities Segment (EM3S) covering both debt and equity instruments now allows securities to be admitted to trading without being recorded in a central securities...more
In this In Practice article, the authors survey market responses to conduct risks in private asset-backed structured finance transactions. They assess operational impacts, cost allocation, and how tools such as enhanced due...more
You have probably seen “shadow banking” and “private credit” splashed across recent financial headlines. While they may sound like buzzwords, these terms, and the market structures behind them, are not new....more
Welcome to Distressed Debt Legal Insights, Ropes & Gray’s periodic source of timely insights for professionals navigating the complex world of liability management and special situations finance....more
The EBA's January 2026 Report on consolidation comes at a particularly important stage in the evolution of bank balance sheet management. Banks increasingly rely on sophisticated risk-transfer and funding structures, yet the...more
On 21 January 2026, the Bermuda Monetary Authority (BMA) released a consultation paper (Consultation Paper) proposing the introduction of a new category of special purpose insurance called the parametric special purpose...more
U.S. bankruptcies and restructurings are expected to remain broadly steady in 2026, providing ample opportunity for restructuring and special situations investment. In the meantime, the U.S. market is assessing the...more
The staff of the Market Participants Division (the “Staff”) of the Commodity Futures Trading Commission (CFTC) have issued two no-action letters that provide targeted relief from commodity pool operator (CPO) and commodity...more
Special purpose vehicles were always the sort of tool investors used only occasionally, in special circumstances. A hot deal. A founder who didn’t want 100 angels on the cap table. A one-off opportunity that didn’t quite fit...more
Implications for government entities, state-funded organizations, and stakeholders managing public revenues....more
The UK Prudential Regulatory Authority (PRA) has sent a letter to the Prime Minister providing an update on measures taken to align regulation with its economic growth objectives. The PRA confirms completion of four out of...more
On 14 November 2025, the Prudential Regulation Authority (PRA) published Discussion Paper 2/25, “Alternative Life Capital: Supporting Innovation in the Life Insurance Sector,” which starts the PRA’s engagement with...more
Fintech originators such as alternative lenders, buy-now-pay-later platforms, and payments companies typically fund daily originations through subsidiary-level special purpose vehicle (SPV) warehouse credit facilities. At the...more
The Bermuda purpose trust is an effective and flexible tool which can be useful in a number of different scenarios. Having been widely used in the private wealth context for some time, Bermuda purpose trusts can also be used...more
In its priorities for 2025, the Prudential Regulation Authority (PRA) signalled that it would remain focused on the bulk purchase annuity (BPA) market.1 In a speech on 18 September 2025, the PRA has duly delivered a further...more
In July 2025, Robinhood launched a new product in the European Union designed to give investors exposure to privately-traded U.S. companies through tokenized financial synthetics. The offering is part of Robinhood’s effort to...more
The High Court has imposed the first Building Liability Order under the Building Safety Act, passing liability for building safety defects from an SPV to its wealthier parent company....more
In the Soundtrack of Our Lives, one of the songs that I still get to hear from time to time on Sirius XM, is “Still the One” which was recorded and released by the band Orleans in 1976. I was in the tenth grade just to be...more