Mayer Brown’s Jayne Backett (pictured left) and Shaeron Yapp on a private member’s bill of interest to the banking sector
One recent proposal for legislative reform triggered by the economic crisis is due for a second reading before Parliament on 21 October 2011 and seeks significantly to curtail the rights of lenders in the commercial real estate sector. While it has received little traction at present and seems unlikely to be enacted, it will be of interest to financial institutions, corporations, insolvency practitioners and their advisers and may stimulate further discussion on reform generally in the market.
