The Deal to Save Lloyds

Publications

The ABI Guide to Cross-border Insolvency in the United States

This Guide is a must-read for any practitioner involved in international insolvency issues. The authors address the history of the UNCITRAL Model Law on Cross-border Insolvency, which the United Nations Commission on International Trade Law adopted in 1997 after five years of meetings and discussion. Thirteen states have now adopted this law, which includes the United States' adoption of chapter 15 as part of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. For those involved in the evolving new world of chapter 15 law, this publication provides the necessary overview to understanding the law in practice. Softbound, 92 pages. Order your copy from ABI, today!

European Union Regulation on Insolvency Proceedings: An Introductory Analysis, Second Edition

Updated to reflect the recent modifications to the EU Insolvency Regulation, this book is a primer that covers jurisdictional issues, "winding-up" procedures such as the appointment of a liquidator, recognition of judgments, creditors' rights and other provisions. Written by Prof. Bob Wessels of Vrije University in Amsterdam, this book is an invaluable resource for professionals who find themselves increasingly involved in cross-border insolvency cases. Softbound, 170 pages.
Order your copy from ABI, today!

The Deal to Save Lloyds

Submitted by editor on Mon, 11/02/2009 - 07:41

Lloyds Banking Group has confirmed it is now a whisker away from pulling off a Houdini-like escape from the U.K. government's asset protection scheme, The Wall Street Journal reported. If it succeeds, it will be a triumph of high finance, low politics and the determination of Prime Minister Gordon Brown and Lloyds boss Eric Daniels to avoid unpicking the disastrous takeover of HBOS they agreed at the height of the financial crisis last year. On any reasonable assessment, the HBOS deal, the capital injections and the insurance provided under APS all breached EU state aid guidelines, requiring substantial remedies. The EU this week forced Dutch group ING to break itself up. But Lloyds says it expects to get away with minimal disposals. That's thanks to intense U.K. lobbying of the EU, now culminating in an elaborately choreographed three-stage spin operation. Read more. (Subscription required.)

Publications

Search Entire Site