SIFMA, the Loan Syndications and Trading Association ("LSTA") and the Managed Funds Association ("MFA") (collectively "the associations") filed an amici curiae brief in a case that considered how to discount future payments under a plan of reorganization in order to provide secured creditors with payments "of at least the value" of their claim pursuant to Section 1129(b) of the Bankruptcy Code. The brief was filed with the U.S. Court of Appeals for the Second Circuit in Momentive Performance Materials Incorporated, et al. v. BOKF, NA et al. Section 1129(b) allows the court to confirm a plan of
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ISDA added a Japanese jurisdictional module to its Resolution Stay Jurisdictional Modular Protocol. The new module is intended to facilitate compliance with Japanese regulations that require contractual stays to be included in certain financial contracts that are not governed by Japanese law.
ISDA CEO Scott O'Malia urged resolution authorities to "maximize" certainty, predictability and transparency when dealing with central counterparty recovery efforts.
ISDA launched a Resolution Stay Jurisdictional Modular Protocol intended to help market participants comply with newly amended regulations relating to the cross-border enforceability of stays on contractual termination rights.
ISDA launched a new protocol to help market participants comply with the EU Bank Recovery and Resolution Directive and to make certain acknowledgments of bail-in powers.