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Capital Markets Law Journal Advance Access originally published online on June 23, 2008
Capital Markets Law Journal 2008 3(3):320-325; doi:10.1093/cmlj/kmn015
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© The Author (2008). Published by Oxford University Press. All rights reserved. For Permissions, please email: journals.permissions@oxfordjournals.org

UK bank insolvency reform

Look Chan Ho*
*Attorney-at-Law and Solicitor, Freshfields Bruckhaus Deringer LLP, London. I have benefited from discussions with Nick Segal. All views expressed and any errors made are my sole responsibility.

The first 150 words of the full text of this article appear below.


Key points

  • Recent credit difficulties have revealed the potential inadequacies of UK insolvency regimes applicable to credit institutions, prompting the UK regulatory authorities to consult on the possibility of insolvency reform.
  • This article discusses the recent credit crisis, considers the US bank insolvency regimes and reviews some of the proposals for reform of the UK bank insolvency procedures.

 

Recent global liquidity difficulties have witnessed large credit institutions teetering on the brink of bankruptcy, prompting calls for regulatory reform. In the UK where bank failures have been historically rare, the regulatory authorities have consulted on the possibility of reforming the insolvency regimes applicable specifically to credit institutions.1 This article reviews some of the proposals for reform of the UK bank insolvency procedures.


   1. Credit crisis in brief
 
To help put the proposals for reform in perspective, it is necessary to review how and why the global liquidity difficulties came about. In broad outlines, the problems began . . . [Full Text of this Article]


   2. Rationale for special bank insolvency regime
 

   3. The US bank insolvency regime
 

   4. The UK reform proposals
 

   5. Concluding remarks
 

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