UK Plans New Insolvency Rules For Investment Banks

Law360, New York (September 17, 2010, 5:35 PM EDT) -- The British government has announced its plans for a new system to deal with bank insolvencies that would help calm markets during crises like the one set in motion by Lehman Brothers Holdings Inc.'s collapse in 2008.

Her Majesty's Treasury opened the review on its special administrative regime for investment firms to consultation Thursday, seeking reply from the financial services sector, legal advisers and insolvency practitioners.

"It is crucial to reduce the impact of an investment firm failure on the stability of the U.K. financial systems,”...
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