• Credit Default Swaps & the Bankrupt Counterparty - Entering the Undiscovered Country
  • January 9, 2009 | Author: James P. Wehner
  • Law Firm: Caplin & Drysdale, Chartered - Washington Office
  • Winner of the Mondaq Content Award for the Most Read Article in October 2008. The credit default swap ("CDS") has never been tested in bankruptcy proceedings on any significant scale, particularly under recent amendments to the Bankruptcy Code. In part, this is because the CDS market is a very recent phenomenon.