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Orderly Liquidation in the Shadow of the Bankruptcy Code

Robert Steigerwald presented this material in a seminar at the Bank on August 22, 2012. That seminar addressed the "orderly liquidation" of certain nonbank financial companies under Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and compared the Title II resolution process with provisions of the U.S. Bankruptcy Code for ordinary business bankruptcies. The seminar also discussed the Bankruptcy Code's "safe harbors" for certain financial contracts and considered how those protections are modified in the Title II orderly liquidation process and the special regimes under U.S. law for resolving banks and nonbank financial companies, such as insurance companies.

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