It's not my (de)fault! Options following counterparty default under the ISDA Master Agreement


This article provides an update of the law regarding section 2(a)(iii) of the ISDA, which makes the obligations of each party to the other subject to the condition precedent that an Event of Default or Potential Event of Default must not have occurred. It discusses the limitations and future of this clause in light of recent case law.

Please let me know if you would like any further information.

Kind regards


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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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