Lawyers specialising in insolvency, restructuring and derivatives have just experienced arguably one of their busiest 16 months. In filing for Chapter 11 bankruptcy protection on September 15, 2008, Lehman Brothers became the largest-ever corporate insolvency – and triggered one of the most complex unwinds, spanning thousands of subsidiaries in multiple jurisdictions. Determined to avoid something similar happening in future, governments are putting in place a raft of measures, including so
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