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The authors present three recent credit default swap (CDS) credit event determinations, including the iHeartCommunications credit event, which may appear inconsistent with the spirit of...
The authors present three recent credit default swap (CDS)
credit event determinations, including the iHeartCommunications
credit event, which may appear inconsistent with the spirit of the
protections for which CDS contracts were designed. They also
discuss the similarities and differences between the three credit
events, and provide suggested amendments to standard CDS contracts
that the market may consider to address "unconventional"
credit events such as these.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
