Elizabeth Warren (D-MA), Tammy Baldwin (D-WI), Sherrod Brown (D-OH), Mark Pocan (D-WI) and Pramila Jayapal (D-WA) introduced a bill to govern the private funds that engage in change in control transactions.
Cadwalader attorneys analyzed a Third Circuit decision holding that distributions to a debtor's first lien creditors are governed by the Bankruptcy Code and not an intercreditor agreement's waterfall provision on the enforcement of collateral remedies.
On March 18, 2019, the U.S. Bankruptcy Court of the Southern District of New York enforced a mortgage lender's claim for a prepayment premium, despite the lender's prepetition acceleration of the loan due to the debtor's default.
ISDA, the Futures Industry Association and the Institute of International Finance responded to issues concerning central counterparty resolution raised in a discussion paper published by the Financial Stability Board.
The Federal Reserve Board's "clean holding company" requirements - which apply to U.S. globally systemically important banks and certain U.S. intermediate holding companies of the largest foreign banks - became fully effective on January 1, 2019.