Post-Lehman Rules of the Road: Navigating the Latest Federal Stay Regulations Governing Financial Contracts with Global Systemically Important Banks

Date: December 10, 2020

Time: 12:00 - 1:00 p.m. Eastern

Location: Virtual Event

Nixon Peabody partners Robert Christmas and Barry Rothchild will present on the West LegalEdcenter webinar hosted by Thomson Reuters®.

Details from the conference website

Procedural gaps between the U.S. Bankruptcy Code and federal bank rehabilitation procedures caused one of the destabilizing features of the Lehman Brothers bankruptcy cases, which was the immediate and damaging termination of Lehman’s financial contracts and those of its subsidiaries through creditors’ use of cross-default provisions. A key regulatory reform goal of the Dodd-Frank Wall Street Reform and Consumer Protection Act was to reduce the effect on the United States financial system of the financial failure of a single institution that could have systemic negative impacts on the whole of the U.S. economy, and to preserve the value of that institution’s assets. As part of these efforts, recent Federal regulations broadly dictate the timing of use, and types, of default remedies that are permitted in most financial contracts with global systemically important banks (“GSIB”). This Webinar will help practitioners (a) identify which of their clients are subject to the relevant regulations, (b) understand what types of agreements are covered by the regulations and how to analyze the relevant required new contract language, and (c) develop an appropriate and cost-efficient strategy for their clients to comply with the regulations.

For more information or to register, visit the West LegalEdcenter website.

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