Edwin E. Smith

Shifting Sands: A Revised Draft of the AIFM Directive
Peter Bibby, Thomas John Holton, Roger P. Joseph, Christopher Phillip Leonard, Helen J. Marshall, Edwin E. Smith, Neal E. Sullivan, December 8, 2009
In April 2009, the European Commission published a draft Directive on Alternative Investment Fund Managers (the “draft AIFM Directive”). The draft AIFM Directive was intended to establish a common regulatory and supervisory framework for the investment managers of all funds promoted to...

A Shortfall at Lehman Brothers Inc.: The SIPA Trustee's Property Allocation Motion
Joshua Dorchak, Kenneth A. Kopelman, Edwin E. Smith, Chris Atkinson, Aileen M. Foley, October 23, 2009
On October 5, 2009, the trustee ("Trustee") overseeing the liquidation of Lehman Brothers Inc. ("LBI"), the U.S. broker-dealer, asked the court to approve his proposed allocation of LBI property (the "Motion"). The Motion reveals a $4.9 billion shortfall in assets that...

Is Contractual Triangular Setoff Permitted Under the Bankruptcy Code for Derivative Transactions?
Joshua Dorchak, Kenneth A. Kopelman, Jeffrey S. Sabin, Ronald J. Silverman, Edwin E. Smith, February 24, 2009
It is not unusual for a seller or provider of services to a group of affiliated companies to obtain by contract a right to set off payment obligations owed by the seller or provider to one member of the group against amounts owed to the seller or provider by another member of the group.