Recently by Fabien Carruzzo
Enforceability Of Subordination Provisions In Synthetic CDOs - A Lehman Perspective
On January 25, 2010, U.S. Bankruptcy Judge Peck struck down a provision that used the bankruptcy of Lehman Brothers Holdings, Inc. (" LBHI ") to trigger subordination of a Lehman subsidiary's swap claim against a securitization vehicle in the United Kingdom.1 The opinion invalidates a...
Read MoreAfter The Big Bang: The New Credit Default Swap Landscape
The Big Bang bell has sounded for participants in the credit default swaps industry. As part of an effort to enhance the infrastructure of the CDS market, increase transparency, foster operational efficiency and, last but not least, promote asset fungibility, market participants have developed...
Read MoreCredit Default Swap Regulation Overview
Introduction Much has been written lately regarding the role of derivatives, and specifically, credit default swaps (CDS) in the current market turmoil. Despite the legitimate credit risk transfer and hedging technology embodied in CDS, these products have been pilloried as a significant...
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