Ardagh review sparks CDS warnings
Lawyers warn a panel’s decision on the company’s restructuring will have wider implications
Three lawyers may fundamentally reshape how credit default swap (CDS) traders view restructuring credit events, according to advocates on both sides of an upcoming hearing to decide the fate of contract payouts on European packaging firm Ardagh.
The three-member panel of external lawyers is set to determine whether the events leading up to Ardagh’s recapitalisation last month constituted a
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