Cross-Border Bank Insolvency

Hardcover | March 3, 2011

EditorRosa Lastra

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This timely book analyzes and discuss the various issues associated with cross-border bank insolvency following the financial crisis. Though financial markets and institutions have become international in recent years, regulation remains constrained by the domain of domestic jurisdictions.This dichotomy poses challenges for regulators and policy makers. If at the national level, bank crisis management is complex (with the involvement of several authorities and the interests of many stakeholders), this complexity is far greater in the case of cross-border bank crisis management, bothat the EU level and at the international level. Insolvency procedures are typically nationally based, entity-centric and sector specific. The demise of national frontiers in today's global financial markets shows the limitations and inadequacies of these principles to deal with financial conglomerates, complex financial groups and internationalholding structures. These inadequacies are particularly evident in the case of cross-border bank insolvency. They are also manifested in the host-home country divide and in the treatment of systemic risk and systemically significant financial institutions. Institutions may claim to be global whenthey are alive (as in the case of Lehman Brothers); they become national when they are dead. Quite often, financial law specialists lack in-depth expertise on insolvency law and insolvency law specialists lack in-depth expertise on financial law. This book bridges these two areas of law by bringing together distinguished insolvency and banking law experts to provide a unique analysis of thespecial issues associated with cross-border bank insolvency and an inter-jurisdictional approach combining national, European and international dimensions.The Editor draws on her experience gained during participation in the Basel Working Group to provide a valuable reference for banking and insolvency practitioners, scholars, regulators and the judiciary.

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From the Publisher

This timely book analyzes and discuss the various issues associated with cross-border bank insolvency following the financial crisis. Though financial markets and institutions have become international in recent years, regulation remains constrained by the domain of domestic jurisdictions.This dichotomy poses challenges for regulators ...

Rosa Lastra is a Professor in International Financial and Monetary Law at the Centre for Commercial Law Studies (CCLS), Queen Mary, University of London. Prior to joining CCLS she was Assistant Professor and Director of the International Finance and Business Program at Columbia University School of International and Public Affairs in ...

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Format:HardcoverDimensions:592 pagesPublished:March 3, 2011Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199577072

ISBN - 13:9780199577071

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Table of Contents

1. Rosa M. Lastra and Geoffrey Wood: Bank Insolvency in the Context of Crisis Management2. Andrew Campbell and Rosa M. Lastra: Definition of Bank Insolvency and Types of Bank Insolvency Proceedings3. Michael Krimminger and Rosa M. Lastra: Early Intervention4. Rosa M. Lastra and Charles Proctor: The Actors in the Process: of Supervisors, Regulators, Administrators and Courts of Justice5. Eva Hupkes: Allocating Costs of Failure Resolution - Shaping Incentives and Reducing Moral Hazard6. Georgina Peters: Developments in the EU7. Rosa M. Lastra: International Law Principles Applicable to Cross-Border Bank Insolvency8. Jay Lawrence Westbrook: The Elements of Coordination in International Corporate Insolvencies: What Cross-Border Bank Insolvency Can Learn From Corporate Insolvency9. Look Chan Ho and Rosa M. Lastra: International Developments10. Thomas F. Huertas and Rosa M. Lastra: The Perimeter Issue. To What Extent Should lex specialis be Extended to Systemically Significant Financial Institutions? An Exit Strategy from Too Big to Fail11. Michael Krimminger: Ending Too Big to Fail: Practical Resolution Alternatives for Financial Conglomerates12. Ross Leckow, Thomas Laryea and Sean Kerr: Operational Issues13. Michael Waibel: Bank Insolvency and Sovereign Insolvency14. Look Chan Ho: Bank Insolvency Law in the United Kingdom15. Heidi Mandanis Schooner: US Bank Resolution Reform: Then and Again16. James Bromley and Tim Phillips: International Lessons from Lehman's Failure - A Cross-Border No Man's LandAppendix: Resolution of Cross-Border Banks - A Proposed Framework for Enhanced Coordination