Template:Insolvency vs insolvency filing

You may be forgiven for wondering what the difference is between “Insolvency” — the normal Extraordinary Event from Section 12.6 and the Additional Disruption Event known as “Insolvency Filing”. It’s a good question that, we dare say, even ISDA’s crack drafting squad™ would struggle to capably answer, but the reality is that this people tend to disapply Insolvency Filing, as it is covered by other Additional Disruption Events so this is the one that is important.