US wrestles with bankruptcy-based resolution regime
Political divides undermine efforts to bolster insolvency process
After nine months of political debate, a bill that will deliver a much-needed overhaul of the way in which the US bankruptcy code handles the resolution of a failing bank has at last passed through the House of Representatives.
The future of the bill – HR2947 – is uncertain, however, with passage through the Senate and presidential assent far from assured. A successful move by Republican members of the House Financial Services Committee to pass an associated bill, repealing the Dodd-Frank Act's
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