Journal Article
The failure resolution of Lehman Brothers
Sarkar, Asani; Fleming, Michael J. (2013-12)
This study examines the resolution of Lehman Brothers Holdings Inc. in the U.S. Bankruptcy Court in order to clarify the sources of complexity in its resolution and to inform the debate on appropriate resolution mechanisms for financial institutions. The authors focus on the settlement of Lehman?s creditor and counterparty claims, especially those relating to over-the-counter (OTC) derivatives, where much of the complexity of Lehman?s bankruptcy resolution was rooted. They find that creditors? recovery rate was 28 percent, below historical averages for firms comparable to Lehman. Losses were ...
Economic Policy Review , Issue Dec , Pages 175-206

Journal Article
Chapter 11 for Countries?
Chatterjee, Satyajit (2016-04)
Sovereign default risk is rising, yet the system for dealing with it remains flawed. Satyajit Chatterjee explains why it might be time to revive a debt restructuring proposal the international community rejected in 2003.
Economic Insights , Volume 1 , Issue 2 , Pages 7-14