Shearman And Sterling

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March 02, 2012

Greek Restructuring: Why Isn't It (Yet) a Credit Event?

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Recent developments arising out of the Greek sovereign debt crisis have required the ISDA Determinations Committee to determine whether a "Credit Event" has occurred under credit default swaps referencing Greek sovereign debt. The Determinations Committee concluded on 1 March 2012 that a Credit Event has not yet occurred. We explain here why this is the case.

View full memo, "Greek Restructuring: Why Isn't It (Yet) a Credit Event?"

Authors and Contributors

Fredric Sosnick

Partner

Financial Restructuring & Insolvency

+1 212 848 8571

+1 212 848 8571

New York

Clifford Atkins

Of Counsel

Finance

+44 20 7655 5957

+44 20 7655 5957

London

Patrick Clancy

Partner

Finance

+44 20 7655 5878

+44 20 7655 5878

London

Anthony Ward

Of Counsel

Finance

+44 20 7655 5000

+44 20 7655 5000

London

Winfried M. Carli

Partner

Finance

+49 89 2388 8200

+49 89 2388 8200

Munich

Pierre-Nicolas Ferrand

Partner

Finance

+33 1 53 89 71 77

+33 1 53 89 71 77

Paris

Domenico Fanuele

Partner

Capital Markets

+39 06 697 679 210

+39 06 697 679 210

+39 02 0064 1510

+39 02 0064 1510

Rome

Iain Goalen

Partner

Finance

+44 20 7655 5958

+44 20 7655 5958

+971 5 6996 2376

+971 5 6996 2376

London