Archives: Lehman

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Wherefore art thou, LIBOR?

The phrase “Lehman fallout” has become almost white noise in the financial world.  Everything and anything has been attributed to the demise of the onetime banking giant.  At the risk of sounding cliché, everything has indeed changed because of the collapse of Lehman.  Apart from the obvious, the failure of Lehman has opened the floodgates … Continue Reading

‘Point of no return’ is not the point says Supreme Court

So Eurosail-UK 2007-3BL plc (Eurosail) is not ‘balance sheet’ insolvent, no event of default has occurred under the RMBS notes it has issued and a post-enforcement call option (PECO) does not make limited recourse any of the notes it relates to. Those are the conclusions of the Supreme Court (see here) after it substantially re-affirmed … Continue Reading

Lehman Car Crash

I suspect I may have been alone amongst viewers of the recent Singapore Grand Prix in that, rather than marvelling at the brilliance of Sebastian Vettel’s driving skills, my thoughts instead were on the world’s largest bankruptcy – Lehman Brothers. For those who have not been living and breathing the consequences of the financial sector’s … Continue Reading
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