Isda weighs in on Societe Generale court ruling

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The International Swaps and Derivatives Association has submitted an opinion to a US court over a disputed credit default swap (CDS) contract, in which it states the court's ruling does not correctly interpret Isda documentation. The case was originally brought by Aon Financial Products and Aon Corporation against Societe Generale (SG) over a disputed credit default swap contract conducted in 1999. SG is appealing the case in the US Court of Appeals for the Second Circuit.

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