10 years later: The Lehman Brothers administration – reflections and ongoing impact
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The Lehman Brothers administration - reflections and ongoing impact
Ten years ago, Linklaters was mandated to work on the administration of Lehman Brothers International Europe: the most high-profile and complex administration in history, and the emblematic event of the wider Global Financial Crisis.
The sheer scale of the collapse and its impact on the global financial markets made it a landmark case, and its ongoing ramifications continue to be extremely significant for our clients. Here are our reflections on working on this highly complex situation, as well as our views on how regulation and practice in the financial markets have changed and continue to change as a result of Lehman Brothers and the wider global financial crisis.
We were at the epicentre of the administration of Lehman Brothers – one of the most complex, high-stakes and transformative situations in history.
This film contains our reflections on working on the administration, lessons learned on handling complex situations, and the ongoing implications of the collapse of Lehman Brothers on regulation and practice in the wider financial markets.
10 years later: plus ça change?
In several important ways, the world of 2018 is reminiscent of the pre-financial crisis world: valuation levels and leverage levels are high, and the world’s ever-increasing complexity and interconnectedness gives scope for the effects of a crisis to be felt across the world, no matter where it starts.
In many other ways, the world today is a very different place: financial regulation is more abundant and stringent; fintech is creating new ways of doing business; and rising political populism is changing society’s relationship with business and finance.
In this infographic, we illustrate the key ways the world has changed and how the world is similar, to how it was before the Global Financial Crisis. History may not repeat, but it may well rhyme.
When the administrators and lawyers walked into the Bank Street offices of Lehman Brothers on a sunny Sunday afternoon ten years ago, little did they know the complexity of the task which awaited them.
Ten years after the 2008 collapse of Lehman Brothers, the wave of regulation hitting bankers pay is starting to bite as analysis published today by global law firm Linklaters, shows that the UK bonus pool for bankers is at the same level as in 2008 at $19.6billion.
With the return of megadeals, mergers and acquisitions could see a record year of activity this year, with global dealmaking reaching $2.12trillion so far in 2018. A wave of megadeals has seen the average deal size at its highest since 2015, hitting $1.07billion.
Brussels based financial regulation partner Etienne Dessy and litigation partner Stefaan Loosveld share their views on how the Lehman Brothers bankruptcy has shaped a new regulatory landscape in the EU and the impact on the relationship between banks and regulators