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Results: 1-10 of 126

United States Supreme Court agrees to hear appeal by Klein & Co. Futures, Inc

  • Day Pitney LLP
  • -
  • USA
  • -
  • May 21 2007

On May 21, 2007, the United States Supreme Court agreed to review a decision by the United States Court of Appeals for the Second Circuit that Klein & Co. Futures, Inc., a futures commission merchant, lacked standing under the private remedy provisions of the Commodity Exchange Act to bring a suit for damages against a board of trade and its subsidiaries for failure to enforce rules to prevent a manipulation scheme that led to Klein & Co.’s collapse (Klein & Co. Futures Inc. v. Board of Trade of City of New York, U.S., No. 06- 1265, 52107

Re North America Steamships Ltd

  • Stikeman Elliott LLP
  • -
  • Canada, United Kingdom
  • -
  • July 30 2007

Trustee in bankruptcy must affirm swap contracts to take advantage of them but is not personally liable if the contracts end up being out of the money - while contract gave buyer a termination right on bankruptcy, it could choose not to exercise this option and leave it to the trustee to decide whether or not to affirm the swap and take the risk that the estate will end up out of the money

Drafting eligible financial contracts

  • McCarthy Tétrault LLP
  • -
  • Canada
  • -
  • August 2 2007

All businesses know that one key to profitability is risk management

NAESB contract not protected by Bankruptcy Code safe harbor provisions

  • McDermott Will & Emery
  • -
  • USA
  • -
  • October 8 2007

The decision of the U.S. Bankruptcy Court in Hutson v. Smithfield Packing Co. (In re National Gas Distributors, LLC) poses potentially serious problems for parties trading gas under the North American Energy Standards Board (NAESB) base contract

Ottawa releases updated “eligible financial contract” definition: wide range of products, including margin loans, now covered

  • Stikeman Elliott LLP
  • -
  • Canada
  • -
  • November 28 2007

In the Spring of 2007, Canada’s Parliament amended several federal insolvency statutes so as to transfer the definition of the class of protected contracts known as “eligible financial contracts” (EFCs) from the federal insolvency statutes themselves to their respective associated regulations

ISDA will publish auction protocol for the settlement of credit derivatives referencing Smurfit-Stone Consolidated Enterprises, Inc.

  • Alston & Bird LLP
  • -
  • Global
  • -
  • January 27 2009

On Monday, the International Swaps and Derivatives Association, Inc. (ISDA) announced that it will issue a CDS auction protocol regarding the settlement of credit derivatives that reference Smurfit-Stone Consolidated Enterprises Inc

Equity and debt decoupling: derivative instruments challenge fundamental assumptions of corporate and bankruptcy law

  • Richards Kibbe & Orbe LLP
  • -
  • USA
  • -
  • June 13 2008

The rapid growth in derivatives as hedging instruments, particularly through equity swaps, credit default swaps ("CDS") and loan credit default swaps ("LCDS"), has challenged fundamental assumptions underlying corporate governance law, federal shareholder disclosure requirements and bankruptcy law

Is triangular set-off enforceable under US laws?

  • Reed Smith LLP
  • -
  • USA
  • -
  • January 29 2009

It is not uncommon to find in trading agreements triangular set-off provisions, also commonly referred to as “cross-affiliates” set-off clauses

CFTC proposes new rules regarding operation of commodity brokers in bankruptcy

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • December 18 2009

The Commodity Futures Trading Commission is proposing to amend its Bankruptcy Rules to permit the trustee for a bankrupt futures commission merchant to continue to operate the business of the commodity broker in the ordinary course for a limited period of time

Derivative exposure and counterparty insolvency: lessons learned in the current market

  • Haynes and Boone LLP
  • -
  • USA
  • -
  • September 11 2009

Almost all large (and many small) companies in today’s economy use derivatives in one way or another to hedge against future risk

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