 | US Treasury Department Seeking Financial Agent Solicitations by October 8th
6 October 2008 - We are transmitting to our clients and friends an announcement just posted by the US Treasury Department containing three solicitations for financial agents to provide services that are needed for the effective implementation of the Troubled Asset Relief Program (TARP) authorized under the Emergency Economic Stabilization Act (EESA). Read >>
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| The Emergency Economic Stabilization Act of 2008
On October 3, 2008, President Bush signed the Emergency Economic Stabilization Act of 2008 (the "EESA" or the "Act") into law. After a failed vote in the US House of Representatives on Monday, the US Senate passed the legislation on Wednesday as amended to increase temporarily deposit insurance overage and to provide numerous tax benefits. Read >>
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| Rising Defaults and Workouts for CDO Participants: Careful Tax Planning Required
21 August 2008 - In light of rating agency and other credit market reports of rising corporate downgrade and default rates, as well as the increasing inquiries that we have been receiving regarding collateral workouts and restructurings, all collateralized debt obligation (CDO) participants should take care to avoid activities that could subject the related CDO to US federal income taxation. Read >>
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| Emerging Markets: News and Recent Developments
June 2008 - There have been some exciting developments at Mayer Brown recently with particular significance for our emerging markets clients. We have also continued our track record of acting on some of the most innovative deals in the market. In this update, we highlight those developments and some of the more notable deals of the last 12 months. Read >>
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| Client Update: Another Victory for the Mortgage Loan Repo Market
4 June 2008 - In a decision issued on May 23, 2008, the mortgage loan repo market scored its second important victory in the American Home Mortgage bankruptcy case. Read >>
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| Client Alert: FDIC Policy Statement on Covered Bonds
28 May 2008 - An interim final policy statement issued on April 23, 2008, indicates how the Federal Deposit Insurance Corporation (FDIC) will treat covered bonds issued by an insured depositary institution (IDI) in a conservatorship or receivership of the issuer. Read >>
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 | Mayer Brown instructed to advise the receivers of Golden Key Ltd. (in receivership)
17 April 2008 - Leading international law firm Mayer Brown has been instructed by Neville Kahn, Nicholas Dargan and Mark Adams of Deloitte and Touche LLP to act for them as joint receivers of Golden Key Ltd. (in receivership), a Structured Investment Vehicle (SIV). Read >>
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| Finance Legal Bulletin: UK Regulated Covered Bond Regulations 2008
March 2008 - Covered bonds are debt securities issued by banks and other credit institutions, the repayment of which is secured by a ring-fenced pool of assets backing the bond. Read >>
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| Credit Derivative Product Companies - A Primer
28 January 2008 - Credit derivative product companies have been described as highly rated, capital efficient and successful managers of diverse and complicated risk - so why have so few made it to market? Read >>
This article was first published and reproduced with the kind permission of derivatives week, 28 January 2008 |
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| Green Structured Products are Likely to Proliferate
3 December 2007 - As carbon emission themes and alternative energy sources such as biofuels and wind power make global headlines, governments and the business sector are focusing on climate change policies Read >>
(Green structured products are likely to proliferate (Ed Parker, partner, and Nicole Purin, senior associate), 3 December 2007, www.efinancialnews.com) |
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| Insurance risk CDOs: What? Why? Now?
14 December 2007 - Insurance risk collateralised debt obligations (CDOs) will allow portfolio investors a greater opportunity to participate in insurance-linked markets and will bring additional liquidity and transparency to such markets. Insurance risk CDOs will also allow insurance and reinsurance companies to better manage their risk exposures and obtain better capital efficiency. Read >>
This article was first published on 14 December 2007 in Issue 6 of STORM - www.storminvestor.com |
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| Mortgages Subprime Mortgage Court Cases Expanding; Public Firms, Banks, and Builders Targeted
20 November 2007 - Subprime mortgage lending practices and mortgage-backed securitizations are generating new types of litigation as company shareholders and others assert claims of reckless investment practices, material disclosure deficiencies, and fiduciary irresponsibility against corporations and their executives, practitioners told BNA in interviews. Read >>
Reproduced with permission from Daily Report for Executives, No. 223 (Nov. 20, 2007) pp.C-1 - C-4. Copyright 2007 by The Bureau of
National Affairs, Inc. (800-372-1033) |
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| Bankruptcy Court Decisions: Changing settlement mechanics of credit default swaps
20 November 2007 - In recent years, the credit default swap market has grown dramatically. According to the International Swaps and Derivatives Association, in the frst six months of 2007 alone, the notional amount of outstanding CDS contracts grew from $26 trillion to $45.5 trillion, a 75 percent year -on-year increase. Read >>
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| The Latest Attempt To Regulate Subprime Mortgage Lending: The Federal Banking Agencies Issue The Subprime Mortgage Lending Guidance
October 2007 - A number of the articles here explore a variety of important issues relating to the subprime market meltdown, beginning with our lead piece, "Filling The Subprime Void--The FHA Revival," by Phillip L. Schulman and Emily J. Booth of the Washington, DC office of K&L Gates. Read >>
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| Subprime Mortgage Lending: Possible Securities Litigation Exposure
24 September 2007 - Washington lawyers Stephen J. Crimmins, Andrew J.Morris, and Daniel T. Brown, Mayer Brown LLP, write about the risks of securities litigation faced by subprime mortgage lenders. Read >>
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| Credit Default Swaps: What You Need to Know Now
September 2007 - Credit default swaps, or "CDS" as they are commonly known, have emerged from virtual obscurity only five years ago to become a multitrillion dollar market today. Read >>
Reprint permission from The Secured Lender, copyright 2007. |
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| Government & Global Trade Practice Client Alert: Proposed Federal Legislation Would Make Private Student Loans Dischargeable in Bankruptcy
11 June 2007 - On June 7, US Senator Dick Durbin (D-IL) introduced legislation to make private student loans dischargeable in bankruptcy. There is significant likelihood that this bill could be approved by the Senate, perhaps as an amendment to the Higher Education Act Reauthorization (HEA), which is scheduled to be reported by the Senate Health, Education, Labor, and Pensions (HELP)
Committee on June 20, 2007. Read >>
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| Real Estate Legal Alert: ISDA's 2007 Property Index Derivatives Definitions: A Killer Application for the Property Index Derivatives Market?
May 2007 - Edmund Parker, a partner in Mayer, Brown, Rowe & Maw LLP's Finance Group, discusses the release by ISDA (the dominant derivatives trade association) of its 2007 Property Index Derivatives Definitions and template confirmations and asks whether they will be the killer application that the property derivatives market has been waiting for. Read >>
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| Anti-risk list
7 May 2007 - Derivatives are key in managing the deficits in defined benefit pension funds. Read >>
Reproduced with the kind permission of The Lawyer, 7 May 2007. |
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| Client Alert: Preparing Effective Responses to Investigations in the Subprime Arena
3 May 2007 - New York Attorney General Andrew Cuomo announced his intention to investigate the practices of subprime lenders at a news conference on March 15. Read >>
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