Cryptoassets are traded on a global basis. Indeed, the markets are even more global and constant than markets in more conventional financial instruments, rivalled only perhaps by the FX markets in their reach.
Global, USA, Delaware, Banking, Compliance Management, Insolvency & Restructuring, IT & Data Protection, Collyer Bristow LLP, Corporate governance, Blockchain, Due diligence, Cryptocurrency
The Supreme Court has delivered a judgment providing welcome clarification on the construction and effect of section 123(2) of the Insolvency Act 1986 (the "balance-sheet" insolvency test) and its interaction with section 123(1)(e) of the Act (the "cash flow" insolvency test).
United Kingdom, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Debtor, Liability (financial accounting), Liquidation, Balance sheet, Insolvency Act 1986 (UK), UK Supreme Court
- 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)
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