你忘不了開始的甜蜜__卻怕想起未來的情景
他是會認錯的聽你哭泣__直到下次又不小心忘記
你解釋著孤寂和無力__他卻相信那只是情緒
當埋怨都變得沒有意義__你想留住的是什麼東西
離開愛過的人和回憶__怎能不掙扎不痛心
但是一個最難的決定__往往是最好的決定
讓懂你的人愛你__重選一份值得堅持的感情
愛只要有一點點衝動就可以__了解卻少些默契都不行
讓懂你的人愛你__別捨不得過去只為了可惜
相愛不只是走進對方的生活__更要能走入彼此的生命

Who Handles an AIG Bankruptcy Filing?

And More from Meltdown World
Posted

For those following the fallout from the meltdown, let’s get you up to speed with a little legal news from the front lines.

Boom times for Weil? Wow. What a difference a couple of days make. The once-vaunted- then- lightly-diminished bankruptcy department at Weil Gotshal has had a nice stretch. First, Weil and its eminence grise, Harvey Miller, were tapped to handle the Chapter 11 filing for Lehman. Now, let’s just say that if AIG files, we wouldn’t be surprised to see the name of Weil’s Marcia Goldstein’s on the filing. Why? Weil’s Goldstein (pictured) handled the Worldcom bankruptcy back when Anastasia Kelly was Worldcom’s general counsel. Kelly has run the legal department at AIG since 2006. (Notably, after leaving WilmerHale in 1995, Kelly became GC at Fannie Mae.) Weil would confirm only that, as of now, AIG is a client of the firm.

More distress for Lehman? Over at Fortune’s Legal Pad blog, Roger Parloff poses the following question: Will bankruptcy laws cushion the impact of Lehman’s insolvency on our financial system or inadvertently exacerbate the problem? Parloff explains:

An ordinary bankruptcy petitioner, like an airline or a steel mill, gets immediate protection from its biggest creditors by the operation of law: as soon as it files for bankruptcy, an “automatic stay” takes effect which prevents those creditors from going forward with lawsuits and seizing the debtor’s assets. Metaphorical runs on the bank are prevented, and management gets time to organize its affairs in a way that will, theoretically, maximize value for all creditors, and maybe even allow the company to reemerge in sound health. . . .

With a financial institution, however, the automatic stay offers no protection against many of its most important creditors. In a trend that began in 1978 and was greatly expanded in amendments passed in 2005, most financial contracts — including securities contracts, swaps, repurchase agreements, commodities contracts, and forward trades — are unaffected by automatic stays.

A Merrill shareholder suit? Reuters reports that Gregory Nespole, a plaintiffs lawyer at Wolf Haldenstein Adler Freeman & Herz, which happens to have at least three cases pending against Bear Stearns, plans to file an investor lawsuit over the proposed buyout of Merrill Lynch, contending the terms of the $50 billion deal are inadequate for Merrill stockholders.

But after checking in with our friends at Deal Journal, we’re not so sure about the merits of a Merrill shareholder suit. After all, BofA is paying $29/share for Merill, a nearly 70% premium to Friday’s close and a 9% premium to where Merrill shares traded before last week’s slide.

Davis Polk handles the credit facility: On Sunday night, a group of ten global banks and securities firms — including JPMorgan, Morgan Stanley, Goldman and BofA — announced a $70 billion loan program that financial companies can tap to help ease the credit shortage that threaten global financial markets. We had the lead role in drafting the term sheet for the $70 billion credit facility and are now representing the Consortium as document counsel.

Davis Polk partners Donald Bernstein, Lawrence Wieman, Laureen Bedell and Bjorn Bjerke took the lead in drafting the term sheet for the credit facility. (According to a source close to Davis Polk, the firm is also counsel to Citi — Lehman’s biggest bondholder — on matters relating to the Lehman bankruptcy, and the firm has “a material role in the AIG matter.”)

LEHMAN BROTHERS

雷曼員工心惶惶 連夜打包覓出路


周日曼哈頓中城夜幕低垂，雷曼兄弟公司的員工依序走出大樓，每個人手上都捧著硬紙箱，裡頭裝著私人文件、照片、盆景，以及裝飾畫。自傳出雷曼公司申請破產後，大樓裡外人聲沸騰，媒體守在門外採訪拍照，員工則忙著打包。
　



雷曼兄弟公司是華爾街老字號，有一百五十八年的歷史，之前公司設在曼哈頓下城的金融區，在九一一恐怖襲擊後，才搬到曼哈頓中城。雷曼兄弟公司屹立了一個半世紀，出了許多金融巨亨，日日操弄鉅款於掌中，曾是人們欽羨的對象，但現在一夕之間全變了。




周一早上進入雷曼兄弟公司的員工，懷著感傷、憤怒、惶恐或焦躁的心情走進辦公室，他們經過周日一晚的打包疲累，剩下就是等待公司正式宣布破產打烊。各部門這些日子一直承受極大壓力，很多經理和交易員上周以來一直忙碌加班，為美林可能的收購東家，或是更糟的清算破產，準備繁雜帳目清單。
　



雷曼兄弟公司周日傳出將宣布破產後，員工很快以簡訊互通訊息，然後紛紛前往辦公室收拾個人物品，刪除電腦私人訊息。
　



投資專家威爾說：「周一會有大批警衛進駐，不准我們碰觸任何公司財產，到時很難收拾，所以周日連夜趕來打包。」
　



這一晚，雷曼兄弟公司燈火通明，員工們整理得疲累了，肚子餓了，就打電話叫外賣。守在門口的媒體只見送披薩、中餐、飲料的外賣郎進出不停，員工通宵作戰，翻箱倒櫃清理物品，甚至複製客戶聯絡資料，以為下一波求職做準備。
　



還有員工要帶走的東西實在太多，趕緊衝回家帶來旅行用的行李箱，厚重的資料塞得滿滿的，大家都心照不宣，沒有人去質問。雷曼兄弟公司大樓外，只見不少員工拖著行李箱，在街上揮手叫計程車，在黑夜之中疲憊離去。
　



有些部門的經理為鎮住大局，在周日舉行電話會議，強調周一公司還是開門，大家要進去上班。最後一天的上班，就是去拿資遣單，以及交換高層閉門會議的傳言。
　



雷曼兄弟公司員工有兩萬五千人之多，面對公司破產的結果，多數覺得十分無奈，尤其是華爾街今年相當不景氣，避險基金、創投公司和銀行先後大規模裁員，重新覓職很不樂觀。
　



年輕的員工特別憤怒，因為不少人今年才從名校商學院畢業，早知雷曼兄弟公司要倒店，當初應另擇公司，如今又得重新投遞履歷表。一名資深經理說：「大家都是在同一條船上，情況都很糟，資深的比新進的更難找工作。」
　



雷曼兄弟公司的待遇相當不錯，許多員工年薪都達百萬美元，愛琳是哈佛企管碩士，今年才二十八歲，卻已在曼哈頓擁有多處豪華公寓，她說：「每月房租收入有三萬多美元，雖不能和在華爾街工作相比，但至少生活無憂。」
　



一名資深經理說：「現在哪裡都不好找工作，我有足夠存款和其他投資，小孩都大學畢業，未來就過著退休生活好了。」
　



但對於中年失業的員工來說，勢必面對殘酷的壓力，尤其是華爾街族揮霍成性，一下子從雲端跌落谷底，沒有高收入的日子很難適應。