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Template:2(a)(iii) case table: Difference between revisions
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! Case !! Date !! Judge !! Issue !! And? !! Status | ! Case !! Date !! Judge !! Issue !! And? !! Status | ||
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| {{Casenote|Enron|TXU}}|| 2003 || NSW Supreme Court || If you suspend under {{isdaprov|2(a)(iii)}} do you eventually have to close out or can you just sit there indefinitely? || You can just sit there for ever. || After [[global financial crisis]] this has become less and less popular with regulators, and is often amended (Wait Period) but it is still law. Unless you are seeking safe harbors from the US Bankruptcy Code, as Metavante was. But in the proper, right-thinking English law world, {{casenote|Enron|TXU}} is stioll right. | | {{Casenote|Enron|TXU}}|| 2003 || NSW Supreme Court ([[Straya]]) || If you suspend under {{isdaprov|2(a)(iii)}} do you eventually have to close out or can you just sit there indefinitely? || You can just sit there for ever. Seems harch but look, don’t @ me. A deal’s a deal.|| After [[global financial crisis]] this has become less and less popular with regulators, and is often amended (Wait Period) but it is still law. Unless you are seeking safe harbors from the US Bankruptcy Code, as Metavante was. But in the proper, right-thinking English law world, {{casenote|Enron|TXU}} is stioll right. | ||
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| {{Casenote|Marine Trade|Pioneer}}|| 2009 || Flaux J (High Court)|| 1. Can you net under Section {{isdaprov|2(c)}} if there is an ongoing {{isdaprov|Event of Default}}? <br>2. (''[[Obiter dictum|Obiter]]'') If the {{isdaprov|Event of Default}} ceases, do payment obligations resume? || 1. No, because the payment is not presently due. <br>2. No. The obligation is effectively extinguished. || 1. Doubted (''[[Obiter]]'') by {{casenote|Pioneer|TMT}}. <br>2. Overruled by {{casenote|Lomas|Firth Rixson}}. | | {{Casenote|Marine Trade|Pioneer}}|| 2009 || Flaux J (High Court)|| 1. Can you net under Section {{isdaprov|2(c)}} if there is an ongoing {{isdaprov|Event of Default}}? <br>2. (''[[Obiter dictum|Obiter]]'') If the {{isdaprov|Event of Default}} ceases, do payment obligations resume? || 1. No, because the payment is not presently due. <br>2. No. The obligation is effectively extinguished. || 1. Doubted (''[[Obiter]]'') by {{casenote|Pioneer|TMT}}. <br>2. Overruled by {{casenote|Lomas|Firth Rixson}}. | ||