Title II of the Dodd-Frank Act establishes a new non-judicial receivership alternative for resolving troubled financial companies that could threaten the stability of the U.S. financial system. Until very recently, systemically significant non-bank financial companies faced unknown consequences if the FDIC was appointed receiver for them. Creditors, equity holders, counterparties, and vendors need certainty as to how a company will be resolved under Chapter 7 or 11 of the Bankruptcy Code, or under FDIC receivership rules in order for markets to function effectively.
Recently the FDIC acted to provide interpretive guidance to demonstrate how it would harmonize its new authority under Title II of Dodd-Frank with provisions in the Bankruptcy Code in a manner that will facilitate continued securitizations by covered financial companies.
Our experienced panel will examine this action and how it addressed uncertainty related to covered financial company receiverships that could have adversely impacted the willingness of market participants to proceed with such securitizations.
1. Asset Securitization
1.1. The FDIC bank securitization safe harbor rule
1.2. FDIC December 29, 2010 opinion regarding avoidable transfers
1.3. FDIC January 14, 2011 opinion regarding application of repudiation power and consent requirements to securitizations to Title II receiverships
1.4. Asset backed securities rules
1.4.1. Representations, warranties
1.4.2. Due diligence
1.4.3. Asset backed securities risk retention
1.4.4. Qualified residential mortgage exemption
1.4.5. Conflicts of interest
1.4.6. ABS disclosure
2. Orderly Liquidation under Title II
2.1. Overview of the issues
2.2. FDIC October 2010 proposed OLA rule
2.3. Open issues
If you intend to take a course for CLE credit, please make sure your state is listed in the "Accreditation" section to the upper right of the program description. Accreditation displayed is unique to the purchased program format (live conference, live webcast, on demand, podcast). Credit totals listed for live conferences are the maximum credits available. Credits issued will be based upon actual time in attendance. Credit totals for other formats are for complete programs. Partial credit is not available for any online or downloadable format.
West LegalEdcenter will not provide accreditation for states not listed.
This product is intended for individual use by the named purchaser. Group viewings for online programs may be arranged for five or more attorneys within the same organization prior to viewing by emailing west.wlec-sales@thomson.com.
