9783848740482 (paperback) 3848740486 (paperback) 9783845283470 (online)
Other Standard Identifiers
KTS Schriften zum Insolvenzrecht ; Band 66.
"The presence of undisclosed CDS positions in bankruptcy proceedings has been thoroughly examined in previous research. Various economic scholars argued that the creation of silent short positions in reorganizations can impair the successful confirmation of a reorganization plan. US legislators responded with the 2011 amendments to Bankruptcy Rule 2019 imposing an obligation on groups or committees of creditors in Chapter 11 cases to disclose any short position, including CDS positions. The question that remains open is whether the limited disclosure requirement embedded in Bankruptcy Rule 2019 suffices to safeguard the fair and equitable distribution of a debtor's assets pursuant to the principles and provisions of bankruptcy law. The study therefore examines the legal inconsistencies that can occur from individual, undisclosed CDS positions, particularly with regard to the pari passu principle and the Chapter 11 provisions regarding the legitimate acceptance and confirmation of a reorganization plan. Conclusively, the study reviews whether such potential inconsistencies are imminent enough to justify the introduction of an expanded disclosure obligation."--Provided by publisher.
Originally presented as the author's thesis (doctoral--Friedrich-Wilhelms-Universität Berlin, 2016).
Bibliography, etc. Note
Includes bibliographical references.
Formatted Contents Note
A background on credit derivatives and their documentation Legal aspects of credit derivatives The structure of single name credit default swap transactions Terms of payment under a single name CDS agreement and its termination after the occurrence of a bankruptcy credit event under the 2003 ISDA definitions Classification of post-settlement creditor positions Substantially similar creditor positions in bankruptcy proceedings : creditors who received payment by a party other than the debtor or a source other than the debtor's estate Applicable bankruptcy rules to creditors who have received payment by a non-debtor party or from a source other than the bankruptcy estate Reviewing the de facto exemption granted to undisclosed CDS positions from otherwise applicable bankruptcy rules The effects of undisclosed CDS positions on Sections 1122 (a) and 1123 (a) (4) USBC The effects on the plan voting and plan confirmation provisions under Chapter 11 USBC and Bankruptcy Rule 2019.