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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

ISDA published the 2015 ISDA Universal Resolution Stay Protocol (the "2015 ISDA Protocol") which "enables parties to amend the terms of their Protocol Covered Agreements to contractually recognize the cross-border application of special resolution regimes applicable to certain financial companies and support the resolution of certain financial companies under the United States Bankruptcy Code." In addition, SIFMA, the International Capital Market Association ("ICMA") and the International Securities Lending Association ("ISLA"), in coordination with ISDA and the Financial Stability Board

The Managed Funds Association expressed general support for and responded to questions from a European Commission consultation document concerning an effective insolvency framework within the EU.