The impact of crises by way of the courts

While the regulatory aftermath of the 2008 collapse of the Lehman Brothers group has been extensively debated, the effects of the case law that arose from the insolvency have not. This article explains the need to redress the balance. A longer version of this article is forthcoming in the LSE Department of Law Working Paper series. (See Related Item) KEY POINTS: - The collapse of the Lehman Brothers group in 2008 has (so far) triggered over 30 decisions by the English courts, including eight by the Court of Appeal and three by the Supreme Court. - Both the quantity and the qualities of these decisions amplify their precedent-setting potential. - In practice, Lehmans cases have had a significant impact on pivotal areas of financial law, which remains largely “ judge-made”. - This case study demonstrates how financial crises can have a long-term, market-wide impact by way of the courts.