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Marine Trade v Pioneer: Difference between revisions
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It follows hard on the heels of the {{casenote|Metavante|Lehman}} and should also be considered in the light of {{casenote|Enron|TXU}}. | It follows hard on the heels of the {{casenote|Metavante|Lehman}} and should also be considered in the light of {{casenote|Enron|TXU}}. | ||
===Settlement netting under Section {{isdaprov|2(c)}}=== | |||
Marine Trade and Pioneer were parties to 14 standard [[cash-settled]] [[contracts for difference]] called freight forwarding agreements ('''FFA'''s) under an {{isdama}}. Each month the parties exchanged a net “settlement sum” under each transaction FFA. | Marine Trade and Pioneer were parties to 14 standard [[cash-settled]] [[contracts for difference]] called freight forwarding agreements ('''FFA'''s) under an {{isdama}}. Each month the parties exchanged a net “settlement sum” under each transaction FFA. | ||