iHeart and Other Unconventional CDS Credit Events

“iHeart and Other Unconventional CDS Credit Events,” co-authored by Corporate partner Fabien Carruzzo, was featured on PracticalLaw.com on May 17.

The authors present three recent credit default swap (CDS) credit event determinations, including the iHeartCommunications credit event, which may appear inconsistent with the spirit of the protections for which CDS contracts were designed. They also discuss the similarities and differences between the three credit events, and provide suggested amendments to standard CDS contracts that the market may consider to address “unconventional” credit events such as these.

Their article was referenced in an opinion issued by Judge Laura Taylor Swain, U.S. District Court for the Southern District of New York, in Solus Alternative Asset Management LP v. GSO Capital Partners L.P. et al.

Read the full article here.