High Court considers validity and timing of contractual notices in close-out procedures

Introduction

In Lehman Brothers International (Europe) (in Administration) v Exxonmobil Financial Services BV(1) the High Court considered a range of issues arising from the application of the close-out provisions of the standard-form Global Master Repurchase Agreement (GMRA) 2000.

Filed under:
United Kingdom, Banking, Capital Markets, Insolvency & Restructuring, Litigation, RPC, Security (finance), JPMorgan Chase, ExxonMobil, Lehman Brothers, High Court of Justice (England & Wales)
Authors:
Jake Hardy
Location:
United Kingdom
Firm:
RPC