The Global Financial Crisis has revealed that many advanced markets had poorly developed legal regimes and regulatory structures for dealing with banks and financial institutions that faced financial difficulties. This was especially so in regard to the “shadow banking system”; the failure...

The Global Financial Crisis of 2007-2008 has demonstrated the fragility of prevailing corporate governance ideas and the weakness of legal means of minimizing risk and highlighting dangers in major banking corporations. Gatekeeper failure has undoubtedly been a significant contributor to this...

Following the passage of the Banking (Special Provisions) Act 2008, the UK government began a process of consultation to review existing legal powers for the handling of banks and financial institutions that had encountered financial difficulties or were facing insolvency as a result of the...

The collapse of Northern Rock plc in September 2007 as a result of the financial crisis that had its origins in the sub-prime mortgage bubble in the United States focussed attention on the limited nature of governmental powers in the UK to deal with banks in distress or facing insolvency. The...

The passage of the Banking Act 2009 (UK) was a major landmark in the development of legal tools for the handling of banks in financial difficulties in the United Kingdom. The Act has emerged from over a year of economic crisis and from politically charged debates and consultations that followed...