“OLA originated under the Dodd-Frank Act to address failing financial institutions in the wake of the Lehman collapse” said Grillo. “Given the potential overlap in jurisdiction, the review of OLA may clear the way for FIBA, which poses critical change to the industry by significant transformation of the bankruptcy process for major financial institutions.”
FIBA was recently reintroduced in the U.S. House of Representatives and passed on April 5, 2017. The legislation proposes modifications and insolvency reform options that would impact major financial institutions by offering a voluntary bankruptcy procedure.
Mr. Grillo advises banks, hedge funds, sponsors and other financial institutions regarding insolvency and restructuring matters in complex financings and securitizations. He focuses on debt restructurings and the reorganization liquidation of financially distressed businesses under Chapter 11 of the Bankruptcy Code.
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