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Results: 1-10 of 107

A Flip on the Flip Clause: Lehman Court Changes Course on Flip Provisions and Financial Safe Harbors
  • Reed Smith LLP
  • USA
  • July 6 2016

New York bankruptcy judge dismisses claims to recover approximately $1 billion that had been distributed to noteholders following commencement of the


Contractual Close-Out Netting Ineffective in the Event of Insolvency
  • Reed Smith LLP
  • Germany
  • June 17 2016

In a decision of 9 June 2016, the German Federal Court of Justice (Bundesgerichtshof, "BGH") has ruled that the determination of the close-out amount


New decision on bank’s duties re interest rate swaps
  • Reed Smith LLP
  • Germany
  • April 1 2016

The 11th senate of the German Federal Supreme Court again had to deal with the duties of a bank recommending interest rate swap agreements. In this


Mercuria v Citigroup: the issues and implications for the commodities market
  • Reed Smith LLP
  • USA
  • May 26 2015

The judgment on the claim brought by Mercuria Energy Trading Pte Ltd and Mercuria Energy Group Ltd (Mercuria) against Citibank NA and Citigroup


Swap agreement safe harbors at risk in latest Lehman dispute
  • Reed Smith LLP
  • USA
  • March 17 2015

On May 30, 2014, hedge fund Moore Capital (Moore) brought suit against the Lehman Brothers bankruptcy estate (Lehman) in the Southern District of New


Supreme Court upholds secured creditor’s right to credit bid in a bankruptcy case
  • Reed Smith LLP
  • USA
  • June 4 2012

The United States Supreme Court emphatically upheld a secured creditor’s right to credit bid in bankruptcy cases


Section 2(a)(iii): the suspense continues
  • Reed Smith LLP
  • Global, United Kingdom
  • April 12 2012

Anyone with a passing knowledge of derivatives law will be aware of the controversy created by section 2(a)(iii) of the ISDA Master Agreement


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


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


Sanctions update
  • Reed Smith LLP
  • European Union, Iran, Libya, Syria, United Kingdom, USA
  • May 13 2011

This is a two part sanctions update