Peruvian law to allow netting of swap transactions and repurchase agreements in bankruptcy proceedings

Recent changes in Peruvian insolvency laws1 will now allow financial institutions and insurance company counterparties to close-out and net obligations under derivatives and repurchase agreements with Peruvian financial institutions or insurance companies which become subject to bankruptcy proceedings.

Filed under:
Peru, Derivatives, Insolvency & Restructuring, White & Case, Bankruptcy, Conflict of laws, Security (finance), Discovery, Swap (finance), Liquidation, Default (finance), Capital punishment, International Swaps and Derivatives Association
Authors:
Ian Cuillerier , David Barwise , Ernest (Ernie) T. Patrikis
Location:
Peru
Firm:
White & Case