US CONSIDERATIONS RESPECTING FINANCIAL INSTITUTION INSOLVENCY Available to Purchase

This paper first generally discusses United States bank liquidations under the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), and addresses the purposes and impact upon US financial institutions of FIRREA. It also addresses the role and powers of the FDIC as affected by FIRREA. The second section discusses the use of ancillary bankruptcy petitions in the United States to aid in the liquidations of foreign financial institutions. The paper concludes with a discussion of the availability of plenary bankruptcy relief for foreign bank holding companies and foreign banks not engaged in banking business in the United States.