Erika advises banks, broker-dealers and other institutions regarding credit risks involved in cross-border derivatives and other complex financial transactions, including the enforceability of rights to close-out, net and liquidate collateral upon a counterparty insolvency, as well as issues in connection with broker-dealer insolvencies under the Securities Investor Protection Act (SIPA).

Her practice also includes the structuring and documentation of collateral and other credit risk mitigation arrangements for a broad range of transactions, including fixed income, equity and credit derivatives, prime brokerage and secured financing transactions, and advising on the impact of the Dodd-Frank Act on such arrangements.

In the largest-ever SIPA proceeding, Erika represented the joint administrators of Lehman Brothers International (Europe) in their multi-billion-dollar claims against Lehman Brothers. She also represented five banking organizations in their first living will submissions