• ISDA Issues Supplement to 2003 ISDA Credit Derivatives Definitions
  • October 1, 2003
  • Law Firm: Stroock & Stroock & Lavan LLP - New York Office
  • On April 23. 2003, the International Swaps and Derivatives Association, Inc. ("ISDA") released a proposed Guaranteed Obligations and Multiple Holder Obligation Supplement to the 2003 ISDA Credit Derivatives Definitions (the "Proposed Supplement"). Among other things, the Proposed Supplement attempted to resolve a potential bifurcation under the 2003 ISDA Credit Derivatives Definitions (the "2003 Definitions") between New York and Europe with respect to treatment under standard credit default swaps of guarantees provided by Reference Entities.