News & Analysis as of

Liquidity Credit Default Swaps

Kramer Levin Naftalis & Frankel LLP

Decoding Derivatives – Q1 2021

Europcar Drives CDS Down a Familiar Path - When Europcar defaulted on its debt, buyers of approximately $100 million of credit default swap (CDS) protection expected significant payouts due to the anticipated low recovery on...more

Kramer Levin Naftalis & Frankel LLP

Decoding Derivatives - Q4 2019

Thomas Cook Takeaways - For credit default swap (CDS) protection buyers with protection on Thomas Cook Group Plc,  a U.K. scheme of arrangement paving the way for a £1.6 billion debt-to-equity exchange imposed on all debt...more

Jones Day

Short-Squeeze Risks Loom Again in CDS Markets

Jones Day on

The Situation: Fears of a potential short-squeeze in the upcoming Sears CDS auction have kicked off disputes in a variety of venues. The Result: One of these disputes caused the fourth-ever convening of an ISDA CDS...more

Kramer Levin Naftalis & Frankel LLP

CDS Market Integrity After Hovnanian

In a companion piece, we reviewed the recent federal district court decision in Solus Alternative Asset Management LP v. GSO Capital Partners L.P. (SDNY Jan. 29, 2018)....more

Kramer Levin Naftalis & Frankel LLP

Debt Dialogue: March 2017

Kramer Levin’s Debt Dialogue addresses recent developments and recurring issues that debt-focused investors commonly encounter in connection with enforcement of rights, interpretation of documentation and other relevant...more

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