Lehman Brothers International (Europe) v AG Financial Products, Inc.: Difference between revisions

Lehman Brothers International (Europe) v AG Financial Products, Inc. (view source)

16 bytes added , 21 April 2023

no edit summary

82,891

edits

@@ Line 1: / Line 1: @@
 {{cn}}{{casenote|Lehman Brothers International (Europe)|AG Financial Products, Inc.}}
 A case that came to the Supreme Court, New York County<ref>This is a state, not federal, court: Civil Branch of the Supreme Court of the State of New York, New York County. Our court is the highest trial-level court for civil cases in the state court system in New York County</ref> and which concermed our old friends [[Lehman]] horcrux and the {{1992ma}} and, in particular, its {{isda92prov|Loss}} method of determining an {{isda92prov|Early Termination Amount}}.
-While there is no Loss concept in the {{2002ma}} this case is relevant in that a 2002-style “{{isdaprov|Close-out Amount}}” is ''broadly'' the same thing as a {{isdaprov|Loss}} calculation.
+While there is no {{isda92prov|Loss}} concept in the {{2002ma}} this case is relevant in that a 2002-style “{{isdaprov|Close-out Amount}}” is ''broadly'' the same thing as a {{isdaprov|Loss}} calculation.
 The case concerns a portfolio of credit derivatives between LBIE and [[monoline insurer]] AG Financial Products, which the judgment confusingly labels “Assured” — AG once stood for “Assured Guaranty” — even though AG was ''writing'' credit protection, not benefiting from it.