Archive for October, 2007

Superfund, SIVs, and Firesales

Tuesday, October 23rd, 2007 at 09:39

Having been declared bankrupt, despite sitting on a cash balance of $1.3bn (a “technical” insolvency one lawyer told me), the Cheyne Finance structured investment vehicle (SIV) has found a saviour in the Royal Bank of Scotland. According to the FT if RBS can refinance the SIV, it will be rescued. Furthermore, the FT opines “A […]






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Superfunds, Reinsurance and the Big Unwind

Thursday, October 18th, 2007 at 10:14

My colleague, Joe Tanega, compared the new Superfund put together by Citigroup, JPMorgan and Bank of America as a reincarnation of the Lloyds reinsurance brouhaha some years ago that resulted in the formation of Equitas. The job of Equitas is (it’s just had its 10th anniversary) to reinsure the syndicates that were caught short and […]






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Discriminating Lawyers

Tuesday, October 16th, 2007 at 15:40

Usually lawyers are the ones fighting battles over discrimination rather than being the subject of them. But two recent age discrimination cases make an interesting comparison–one in the US and the other in the UK, and both in large law firms. Peter Bloxham, a former partner of Freshfields, was caught in the law firm’s restructuring […]






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