Ardagh CDS outcome satisfies some, but presents more questions
Early restructuring trigger and asset-package delivery could signify a new era for European trades
Market participants and legal specialists alike are divided by another extended debate over the workings of credit default swap contracts, as the decision to recognise a restructuring event causes more fallout.
While some investors are celebrating the recent ruling on contracts referencing European packaging firm Ardagh, others worry it will serve to strengthen the position of protection buyers –
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