Court considers transaction parties' ability to bypass derivative counterparty's right to early termination payment (High Court) | Practical Law

Court considers transaction parties' ability to bypass derivative counterparty's right to early termination payment (High Court) | Practical Law

In Anthracite Rated Investments (Jersey) Ltd v Lehman Brothers Finance SA [2011] EWHC 1822 (Ch), the High Court ruled that the steps taken by a non-defaulting party, following early termination of a derivative transaction, were successful in denying the defaulting party's entitlement to a pre-agreed early termination payment under a 1992 ISDA Master Agreement.

Court considers transaction parties' ability to bypass derivative counterparty's right to early termination payment (High Court)

by PLC Finance
Published on 18 Aug 2011 • England, Wales
In Anthracite Rated Investments (Jersey) Ltd v Lehman Brothers Finance SA [2011] EWHC 1822 (Ch), the High Court ruled that the steps taken by a non-defaulting party, following early termination of a derivative transaction, were successful in denying the defaulting party's entitlement to a pre-agreed early termination payment under a 1992 ISDA Master Agreement.