From Ambiguous Contracts to Systemic Crisis: How Lawyers Shaped Leveraged Finance
Abstract
The collapse of First Brands Group has raised concerns that the next global financial crisis could originate in the leveraged finance sector. Relying on the findings of an IOSCO consultation and the author’s own empirical research, this article considers the extent to which a lack of clarity in the drafting of loan terms, and hence the lawyers who held the pen, could be responsible.
Fields of Study & Subjects
finance
banking
and market dynamics
Corporate Insolvency and Governance
Global Financial Regulation and Crises
Publication details
- Journal / source
- Research Portal (King's College London)
- Publication date
- 12 February 2026
- Language
- EN