10 years later

The Lehman Brothers administration – reflections and ongoing impact

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.

 
10 years later: reflections on the 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.

lehman brothers collapse 10 years on

 

 

10 years later: further insight

Shock and awe: the aftermath of Lehman Brothers’ collapse

21st September 2018 // Publication

What really happened on the ground during those fateful days, as the myth of certain banks being ‘too-big-to-fail’ exploded on a global scale?

Decoding a debt matrix

21st September 2018 // Publication

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.

The Regulation Balance

21st September 2018 // Publication

Some question whether the regulations imposed since the collapse of Lehman Brothers have been entirely for the good and how much of an impact they’ve really had.

Governance, compliance and remuneration in the post-Lehman era

21st September 2018 // Publication

The financial world has learned the lessons of rewarding reckless behaviour – but has change been universal?

Where to from here?

21st September 2018 // Publication

Given its seismic consequences, it would be natural to assume fundamental change in the global financial system post-Lehman.

dubai city at night

Gulf economies on the road to recovery ten years after Lehman Brothers’ collapse

13th September 2018 // News

Ten years after the 2008 collapse of Lehman Brothers and the global financial crisis, banks in the UAE have seen a period of stability and growth, with robust levels of Basel III-strengthened capital.

EU pay rules lehman 10

Impact of EU pay rules hitting UK bonuses

12th September 2018 // News

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.

SMCR

Asian banks storm ahead ten years on from global financial crisis

10th September 2018 // News

The shape of the global banking industry ten years on from the global financial crisis has changed drastically as our analysis shows that Asian banks have stormed ahead of their counterparts.

Shanghai

Return of global megadeals could see biggest deal boom since financial crisis

11th September 2018 // News

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.

Ten years on, the Global Financial Crisis: A dive into the impact on the French banking system

10th September 2018 // Publication

On the surface, the French banking system appears less scathed by the Global Financial Crisis but why do we believe that and was this really the case?

The aftermath of Lehman Brothers: crossed views from Brussels

10th September 2018 // Publication

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