Meeting of the Resolution Project

Saturday, May 22, 2010
George Shultz Conference Room, Herbert Hoover Memorial Building

Present

Ken Scott, John Taylor, Tom Jackson, Darrell Duffie, Kimberly Summe, Johannes Stroebel, Dick Herring, David Skeel

Summary

The Resolution Project met to discuss in more detail the group’s Chapter 14 proposal. The issues addressed included the coverage of Chapter 14 (e.g. a minimum asset level), initiation of the bankruptcy process, the treatment of QFCs (in particular, the issue of stays), the possibility of government-provided DIP financing and the role of preference law and claw-back clauses. The group also analyzed the passage of the recent Senate Bill, and likely legislative scenarios going forward.

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