In as much as it might happen Lehman style during a future financial crisis.

Alistair Darling told the FT that the proposal for banks to simplify their corporate structures and plan for dissolution will be included in new financial services legislation this Autumn.

And even if an international consensus fails on this issue, Britain plans to go ahead anyway with plans to force banks to write “living wills” enabling them to be wound down more easily in the event of another financial crisis. Treasury minister Paul Myners told Reuters on Monday that Britain was determined to make sure big financial institutions write the so-called wills — effectively plans to dismantle themselves in case of bankruptcy — regardless of whether there is an international deal to bring them in.

That’ll keep the lawyers busy.

UK to push ahead with bank “living wills” in Autumn [Reuters]