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51 results found


Clayton Utz | Australia, United Kingdom | 6 Feb 2014

Another look at material adverse effect clauses: the Grupo Hotelero case

Material adverse effect clauses are prevalent in Australian loan documentation. However, lenders should be mindful that, given some recent UK


Clayton Utz | Australia | 15 Aug 2013

Rolling over: ASIC's further review of term deposits

Since its first review of term deposits by large banks and mutuals in 2010 there have been improved disclosure and fewer default rollovers from high


Clayton Utz | Australia | 8 Apr 2013

Code red: less than 30 days to comment on draft Credit Reporting Code of Conduct

A draft Credit Reporting Code (CR Code) was released for public consultation on Friday with comments due by 5 May 2013. This draft supplements


Clayton Utz | Australia, United Kingdom | 26 Apr 2012

English court upholds ISDA's interpretation of ISDA Master Agreement

The Lomas decision confirms the understanding of the OTC derivatives industry and realigns the Australian and English law position on the operation of Section 2(a)(iii) of the ISDA Master Agreement.


Clayton Utz | Global | 8 Dec 2011

Capitalisation of bank exposures to central counterparties

The proposed reforms would apply to all exposures to CCPs arising as a result of financial derivatives (both OTC and exchange traded derivatives), reposreverse repos and securities lending and borrowing transactions


Clayton Utz | United Kingdom | 16 Aug 2011

Supreme Court rules in favour of flip clauses

The Supreme Court decision lays to rest some of the uncertainty surrounding the effectiveness under English law of flip clauses used in structured finance and securitisation transactions since the original case was heard in the UK courts in 2009.


Clayton Utz | Australia | 16 Aug 2011

Should we have central clearing for OTC derivatives in Australia?

Regulators are considering whether there should be central clearing for Australian OTC derivatives.


Clayton Utz | Australia | 16 Aug 2011

Close-out netting contracts: government consults on proposed reforms

Currently it’s unclear when a party can exercise a contractual right to close out a netting contract with an ADI in statutory management.


Clayton Utz | United Kingdom | 8 Aug 2011

UK Supreme Court rules in favour of flip clauses

The UK Supreme Court, which is the UK's highest court, has handed down its long-awaited decision in Belmont Park Investments Pty Limited v BNY Corporate Trustee Services Limited and Lehman Brothers Special Financing Inc 2011 UKSC 38, in which the Court considered the validity and enforceability of so-called "flip" clauses under English bankruptcy law


Clayton Utz | Australia | 30 Jun 2011

Requests for bargaining - take care in refusing

On receiving a request to bargain, employers will need to carefully consider that request and their next steps.

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