Fulltext Search
Banking litigation update
  1. The 1992 ISDA Master Agreement: Court of Appeal provides clarity on payment obligations owed to insolvent counterparties

Lomas v JFB Firth Rixson Inc [2012] EWCA Civ 419

United Kingdom, Banking, Derivatives, Insolvency & Restructuring, Litigation, Securitization & Structured Finance, Herbert Smith Freehills LLP, Condition precedent, Debt, Default (finance)
Court of Appeal provides clarity on payment obligations owed to insolvent counterparties

In a keenly anticipated judgment, the Court of Appeal today handed down its verdict in four appeals1 concerning the interpretation of various terms of the 1992 ISDA Master Agreement.

United Kingdom, Derivatives, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Court of Appeal of England & Wales