AIFUL Corporation Credit Event On December 30, 2009 the Credit Derivatives Determinations Committee for Japan resolved that a Restructuring Credit Event occurred in respect of AIFUL Corporation and that an auction would be held. This page contains details of the DC Resolutions, auction documentation and other items relating to the auction for AIFUL Corporation. Further documentation relating to the auction will be added as it becomes available. Please note that ISDA has published a Uniform Settlement Agreement to facilitate the orderly settlement of transactions that are subject to the above Credit Event announcement, this is below, together with a Frequently Asked Questions document for reference. Please note that the fact that an Auction Covered Transaction referencing Aiful Corporation was entered into more than sixty days after the date of the Restructuring Credit Event referred to here does not prevent the Buyer under that transaction from being entitled to serve a Credit Event Notice. By contrast, the DC Credit Event Announcement would be deemed not to have occurred with respect to a transaction with a Trade Date after the Auction Final Price is determined. A Credit Event Notice could therefore not be served under such a transaction in respect of the Restructuring Credit Event referred to here. As a Credit Event Notice must be served by the Tokyo business day before the date on which the Auction Final Price is determined, in practice this would mean the Trade Date of a transaction, in respect of which the DC Credit Event Announcement would be deemed to have occurred, would have to be on or prior to such deadline in order for this to be possible. Related Press Release: |