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Results: 1-10 of 93

The effect of bankruptcy on an out-of-the-money swap by Timothy Lin and Sara Cullen

  • Richards Kibbe & Orbe LLP
  • -
  • USA
  • -
  • August 6 2012

The ISDA Master Agreement serves as the basis for the vast majority of over-the-counter derivatives transactions

English Court of Appeal interprets the ISDA Master Agreement

  • Cadwalader Wickersham & Taft LLP
  • -
  • United Kingdom, USA
  • -
  • April 12 2012

Last week the Court of Appeal of England and Wales handed down its decision in four appeals which raise a number of questions of construction in relation to derivatives in the form of interest rate swaps and forward freight agreements documented under the International Swaps and Derivatives Association Inc. Master Agreement

MSHDA v. Lehman: trying to keep the safe harbor safe for swap counterparties

  • Richards Kibbe & Orbe LLP
  • -
  • USA
  • -
  • June 24 2011

On January 25, 2010, United States Bankruptcy Court Judge James M. Peck issued a decision that limited the ability of parties to swap transactions to enforce certain of their contractual rights against a counterparty that has filed for bankruptcy

Additional states enact NAIC model qualified financial contracts law

  • Foley & Lardner LLP
  • -
  • USA
  • -
  • August 29 2011

Several states have recently added provisions to their insurance rehabilitation and liquidation acts which address the rights of parties to certain derivatives transactions with an insurance company in the event that an order of rehabilitation or liquidation is entered against the insurer

Section 2(a)(iii) of the ISDA Master Agreement, similar clauses and insolvency

  • Reed Smith LLP
  • -
  • United Kingdom, USA
  • -
  • November 11 2010

There have been so many articles written and opinions expressed on the spate of cases on the effect of how netting provisions in over-the-counter ("OTC") derivative contracts work when a counterparty becomes in default, that you would be forgiven for being confused about the current position

The Metavante ruling - in a case of first impression, US bankruptcy court limits ISDA counterparty rights upon a bankruptcy event of default

  • Reed Smith LLP
  • -
  • USA
  • -
  • December 3 2009

For participants in the over-the-counter ("OTC") derivatives markets, perhaps the most significant recent US legal decision interpreting counterparty rights upon a bankruptcy event of default was the September 15, 2009 bench ruling in the US Lehman Brothers chapter 11 bankruptcy cases, In re Lehman Brothers Holdings, Inc., Case No. 08-13555 et seq. (JMP)(jointly administered) ("Bankruptcy Case"

Financial services legislative and regulatory update - 14 May 2012

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • USA
  • -
  • May 14 2012

What was heading to be a rather routine week of hearings and the continued implementation of Dodd-Frank was shaken by the end of the week news that JP Morgan had a $2 billion dollar trading lost

Credit swap agreement ipso facto clause struck

  • Reed Smith LLP
  • -
  • USA
  • -
  • September 14 2011

Lehman Brothers Special Financing and Ballyrock entered into an ISDA Master Agreement to engage in credit swaps, in connection with which Lehman’s parent provided a guarantee

Cross-affiliate netting provision in ISDA swap agreement is not enforceable against the debtor

  • Reed Smith LLP
  • -
  • USA
  • -
  • December 19 2011

The issue decided in this case is whether a cross-affiliate netting provision in an ISDA swap agreement is enforceable against a debtor in bankruptcy

Decisions in Enron and Madoff cases confirm safe harbor protections

  • Chadbourne & Parke LLP
  • -
  • USA
  • -
  • February 29 2012

Active participants in the derivatives market rely on the Bankruptcy Code safe harbor set forth in section 546(e) in pricing their securities

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