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General Conditions - ISDA Provision: Difference between revisions
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General Conditions - ISDA Provision (view source)
Revision as of 15:46, 17 September 2015
, 17 September 2015→Section 2(a)(iii)
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Section 2(a)(iii) of the {{isdama}} was considered in the [[Metavante]] litigation, which has led to more or less the opposite conclusion to the court in [[Enron v TXU]]. | Section 2(a)(iii) of the {{isdama}} was considered in the [[Metavante]] litigation, which has led to more or less the opposite conclusion to the court in [[Enron v TXU]]. | ||
The following is a proposal to "fix" the issues perceived to arise from the [[Metavante]] and, more specifically, the [[Marine Trade]] case with respect to section 2(a)(iii), about which HMT Treasury is sufficiently concerned so as to establish a consultation group to advise it on the ISDA Master Agreement. | The following is a proposal to "fix" the issues perceived to arise from the [[Metavante]] and, more specifically, the [[Marine Trade]] case with respect to section 2(a)(iii), about which HMT Treasury is sufficiently concerned so as to establish a consultation group to advise it on the ISDA Master Agreement. | ||
Mean time, [[ISDA]] is looking to propose a market led solution. That is HMT's preferred position but they may well legislate if a workable solution is not forthcoming. | Mean time, [[ISDA]] is looking to propose a market led solution. That is HMT's preferred position but they may well legislate if a workable solution is not forthcoming. | ||