A tangled web

simon-firth-linklaters-2009

Lehman Brothers' filing for Chapter 11 bankruptcy on September 15, 2008 has become a watershed in financial history. Few events have precipitated such drastic government action and expenditure of taxpayer money across the globe. The largest bankruptcy in corporate history - Lehman reported assets of $639 billion when it filed - also brought into focus many issues that weren't previously on the regulatory radar. Counterparty credit risk, for example, was propelled into the limelight when Lehman's

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