Template:M gen Equity Derivatives 12.6

For Insolvency, compare with the wider Insolvency Filing under Section 12.9(a)(iv), and the much wider Bankruptcy Event of Default in the ISDA Master Agreement.

You may be forgiven for wondering what the difference is between “Insolvency”, being the normal Extraordinary Event from Section 12.6, and the Additional Disruption Event called “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 Insolvency is the important one.