Archives: Structured products

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English Court of Appeal judgment recognises the importance of industry standard ISDA Master Agreement terms when challenged by a competing jurisdiction clause in a financing agreement

The Court of Appeal has confirmed that a jurisdiction clause that elects the English courts in an ISDA Master Agreement prevails when the underlying swap transaction forms part of a wider financing arrangement that is subject to the jurisdiction of the Turin courts: BNP Paribas SA v Trattamento Rifiuti Metropolitani SPA [2019] EWCA Civ 768.… Continue Reading

Closing out derivative contracts following Brexit

Since the shock Brexit vote on 23 June there have been big movements in a number of financial markets, as participants of all types reposition themselves for the period of uncertainty that the leave vote has ushered in. Regardless of the eventual terms of a UK exit from the EU, market movements that have already happened can be … Continue Reading

Structured Finance in the Courts: Five Things We Learned From the Class X Cases

As regular readers will know, April brought two big judgments for the CMBS and structured finance markets in the Windermere VII CMBS and Titan Europe CMBS Class X cases. Now that the dust has settled, it is worth stepping back and looking at the wider perspective of what the decisions mean for future deals, the prospects … Continue Reading

LIBOR case transferred to Financial List

Last Thursday (28 January 2016) the Chancellor of the High Court, Sir Terence Etherton, ordered that Property Alliance Group’s ongoing £89 million claim against the Royal Bank of Scotland should be transferred to the Financial List. The case relates to allegations of mis-selling of four interest rate swaps, and includes claims that the swaps should be … Continue Reading
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