CDO Flip Clause Upheld By U.K. Supreme Court

The U.K. Supreme Court today upheld the flip clause in Lehman Brothers’ synthetic collateralized debt obligations, which made Lehman subordinate to noteholders in the waterfall of payments when the firm filed for bankruptcy in 2008.

  • 27 Jul 2011
The U.K. Supreme Court today upheld the flip clause in Lehman Brothers’ synthetic collateralized debt obligations, which made Lehman subordinate to noteholders in the waterfall of payments when the firm filed for bankruptcy in 2008. The ruling highlights the differences in U.K. and U.S. law on the matter ...

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GlobalCapital European securitization league table

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2 Rabobank 14.41
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Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Feb 2017
1 Wells Fargo Securities 11,897.40 33 11.83%
2 Bank of America Merrill Lynch 9,837.56 29 9.78%
3 Citi 9,714.54 32 9.66%
4 JPMorgan 7,997.38 24 7.95%
5 Credit Suisse 6,335.67 14 6.30%