ABA Section of Business Law
eSource
How Safe is the Harbor? Navigating Restructurings Involving Insurance Company and Other Specialized Counterparties, CDSs, Mortgage Repos, Biofuels Contracts and Obscure Derivatives.
- Credit default swaps and widespread concern about the extent to which CDSs and various types of derivatives will necessitate restructuring billions of dollars of debt is a subject of the evening news. This panel of experts explains "safe harbors" and special rights and limitations of non-debtor counterparties, including commodities and securities contracts, forward contracts, repos, swap agreements and master netting agreements. The panelists discuss specialized categories of these agreements being used in current restructurings, including those of insurance companies that offered default protection for massive amounts of asset backed securities that have plunged in value, and energy commodities suppliers. The dollars at issue are as staggering as the transaction complexity. This program will help you make sense of it all, and guide your clients when they are affected by such transactions.
