| Issue Number |
Submitted By |
Last Updated |
Reference Entity |
Transaction Type |
Question |
Category |
Further Information Provided by Question Submitter |
Current Status |
|
More Info |
| 2011110901 | General Interest Question | 1/17/2012 | PTT Aromatics and Refining Public Company Limited (PTTAR) and PTT Chemical Public Company Limited (PTTCH) | Asia Corporate | Has a Succession Event occurred with respect to PTT Aromatics and Refining Public Company Limited (PTTAR) and PTT Chemical Public Company Limited (PTTCH)? | Succession Event | Markit RED Notification dated 8 November 2011 provides factual summary | Closed | Question Decided | More Info |
| 2012011101 | General Interest Question | 1/11/2012 | Panasonic Electric Works Co., Ltd. | Japan Corporate | Has a Succession Event occurred with respect to Panasonic Electric Works Co., Ltd.? | Succession Event | In a press release (“Press Release”) entitled “Panasonic to Absorb Wholly-Owned Subsidiary (Panasonic Electric Works Co., Ltd.)” and dated 31 August 2011, Panasonic Corporation (Securities Code: 6752) (the “Company”), announced, inter alia, that it would enter into a merger with its wholly owned subsidiary Panasonic Electric Works Co., Ltd. (the “Reference Entity”), which merger would become effective on 1 January 2012. The Press Release also noted that the Company would be the surviving entity and the Reference Entity dissolved upon the merger.
According to the “Stock Price/Rating” page (http://panasonic.net/ir/ratings/ ) of the Company’s website, the Reference Entity had three corporate bonds (series 2, 3 and 4) outstanding and maturing on 20 December 2013, 19 June 2015 and 20 June 2019 respectively. A footnote of the same page informs that ‘Panasonic succeeded corporate bonds of Panasonic Electric Works and SANYO on January 1, 2012.’
Additional Information:
(a) Press Release 31 August 2011 (http://panasonic.co.jp/corp/news/official.data/data.dir/en110831-7/en110831-7.html)
(b) Panasonic Stock Price/Rating Page (http://panasonic.net/ir/ratings/ )
(c) Press release dated 21 December 2010 (http://panasonic.net/ir/library/pewlib/tob/pdf/IR101221_en.pdf )
| Request Accepted by DC | | More Info |
| 2012010501 | General Interest Question | 1/6/2012 | SANYO Electric Co., Ltd. | Japan Corporate | Has a Succession Event occurred with respect to SANYO Electric Co., Ltd.? | Succession Event | Osaka, Japan, August 31, 2011 - Panasonic Corporation ([NYSE:PC/TSE:6752] "Panasonic") today announced that its Board of Directors has decided and signed an agreement to assume operations related to bond financing, redemption and administrative work of SANYO Electric Co., Ltd. (SANYO), a wholly-owned consolidated subsidiary of Panasonic, through business division. This division is expected to take effect on January 1, 2012. Details of the business division are outlined below.
http://panasonic.co.jp/corp/news/official.data/data.dir/en110831-8/en110831-8.html
Sanyo Electric removes logo ahead of Jan. reorganization under Panasonic
OSAKA (Kyodo) -- Sanyo Electric Co. removed its logo from the outer wall of its headquarters building in Moriguchi, Osaka Prefecture on Friday to prepare for the planned reorganization next month of the group led by its parent Panasonic Corp.Along with the reorganization of three Panasonic group companies, all logos of Sanyo, an established electric appliance maker founded in 1947 but acquired by its bigger rival Panasonic in 2009 amid a slump in performance, will be replaced with Panasonic logos, company officials said.Kadoma, Osaka Prefecture-based Panasonic acquired all the shares of Sanyo and Panasonic Electric Works Co. in April and plans to rebrand their products as Panasonic through a reorganization of their businesses.The Sanyo logo at the firm's head office had been there since the building was erected in 1999. About 3 meters tall and 9 meters wide and placed at the level of the 10th floor, it was removed letter by letter by a crane."I will miss it but both Sanyo and Panasonic are local companies (based in Osaka prefecture). I hope the group will do its best in unity," a nearby resident said.
(Mainichi Japan) December 24, 2011
http://mdn.mainichi.jp/mdnnews/business/news/20111224p2g00m0bu053000c.html
| Request Accepted by DC | | More Info |
| 2011120902 | General Interest Question | 12/14/2011 | ACHMEA HOLDING N.V. | European Corporate | Has a Succession Event occurred with respect to ACHMEA HOLDING N.V. ? | Succession Event | Markit Factual summary dated 28 November 2011 | Closed | Question Rejected | More Info |
| 2011111701 | UBS | 12/12/2011 | CSK Corporation | Japan Corporate | Has a Succession Event occurred with respect to CSK Corporation? | Succession Event | CSK Corporation was merged into Sumisho Computer System Corporation, with Sumisho Computer System Corporation the surviving entity. Links to company press releases:
(24 February 2011) http://www.scsk.jp/ir_en/news/csk/files/20110224_3.pdf
(19 May 2011) http://www.scsk.jp/ir_en/news/csk/files/20110519_4.pdf
(28 June 2011) http://www.scsk.jp/ir_en/news/csk/files/20110628_2.pdf
(1 October 2011) http://www.scsk.jp/ir_en/news/2011/pdf/20111001.pdf
(31 October 2011) http://www.scsk.jp/ir_en/library/briefing/pdf/csk/20111031_2e.pdf
| Closed | Question Decided | More Info |
| 2011090905 | General Interest Question | 12/12/2011 | Asahi Breweries Kabushiki Kaisha | Japan Corporate | Has a Succession Event occurred with respect to Asahi Breweries Kabushiki Kaisha? | Succession Event | According to a press release (“Press Release”) entitled “Notification of Corporate Division and Change of Articles of Incorporation following Transfer to Holding Company Structure” (純粋持株会社制移行に伴う会社分割並びに定款変更（商号及び事業目的の変更）に関するお知らせ) and dated 8 February 2011, Asahi Breweries Kabushiki Kaisha (Securities Code: 2502) (the “Reference Entity”), announced, inter alia, that it would transfer (the “Transfer”) its alcoholic beverage business (the “Business”) to one of its subsidiaries, Asahi Group Holding Kabushiki Kaisha (the “Subsidiary”) pursuant to a ‘corporate reorganisation’ agreement (吸収分割契約, the “Reorganisation Agreement”) entered into between the Reference Entity and the Subsidiary on 8 February 2011 and effective 1 July 2011. The abovementioned corporate reorganisation took place by way of an ‘absorption and division’ (吸収分割) under the Japanese Companies Law.
As part of the corporate reorganisation, on 1 July 2011, the Reference Entity and the Subsidiary swapped their name and the Reference Entity became “Asahi Group Holding Kabushiki Kaisha” and the Subsidiary “Asahi Breweries Kabushiki Kaisha”.
In item 6 of the Press Release, the Reference Entity advised that, as part of the Transfer and unless otherwise specified in the Reorganisation Agreement, the Subsidiary would assume, inter alia, the “assets, rights, indebtedness and obligations relating to the [Business]”.
Under Paragraph 2 of the Attachment (Obligations to be Transferred) to the Reorganisation Agreement (cf. p. 86 of item (e) of Additional Information), the following long- and short-term liabilities would not be transferred to the Subsidiary:
(a) All short-term borrowings, bonds due within one (1) year, and commercial papers; and
(b) All long-term borrowings and bonds.
The requesting firm is enquiring with the investor relation department (“IR”) of the Reference Entity to obtain information relating to the Relevant Obligations but has yet to receive any confirmation. The requesting firm will follow up and update ISDA upon further development.
Additional Information:
(a) Reference Entity’s IR page (http://www.asahigroup-holdings.com/en/ir/index.html)
(b) Press Release dated 26 August 2010 (http://www.asahigroup-holdings.com/en/ir/pdf/10pdf/20100826_2.pdf)
(c) Press Release dated 8 February 2011 (http://www.asahigroup-holdings.com/en/ir/pdf/11pdf/20110208_1.pdf)
(d) Press Release dated 28 February 2011 (http://www.asahigroup-holdings.com/en/ir/pdf/11pdf/20110228.pdf)
(e) Notice of the 87th Annual General Meeting of Shareholders dated 3 March 2011 (http://www.asahigroup-holdings.com/en/ir/pdf/11pdf/20110304.pdf)
(f) 2011 Semi-annual Account dated 2 August 2011 (http://www.nikkei.com/markets/ir/irftp/data/tdnr2/tdnetg3/20110802/6z8m0j/140120110721085395.pdf)
(g) Information relating to the Shareholder Meeting held on 25 March 2011 (Japanese) (http://www.asahigroup-holdings.com/ir/shareholders_meeting/whats.html)
| Closed | Question Decided | More Info |
| 2011102601 | UBS Limited | 11/2/2011 | The Royal Bank of Scotland N.V. | European Corporate | Has a Succession Event occurred with respect to The Royal Bank of Scotland N.V.? | Succession Event | Effective Date of Part VII Scheme: 17 October 2001
http://www.investors.rbs.com/download/rbs_nv/RBSNV_PART7_DATE.pdf
Part VII Scheme (as sanctioned by the Court on 23 September 2011)
http://www.investors.rbs.com/download/rbs_nv/Part_VII_Scheme_sept2011.pdf
Proposed transfers of assets and liabilities of RBS N.V. to RBS plc 19th April 2011: http://www.investors.rbs.com/download/rbs_nv/rbsnv_110419.pdf | DC Deliberating | | More Info |
| 2011101001 | General Interest Question | 10/27/2011 | Fortune Brands, Inc. | North American Corporate | Has a Succession Event occurred with respect to Fortune Brands, Inc.? | Succession Event | Has a Succession Event occurred with respect to Fortune Brands, Inc. and is Beam Inc. the sole Successor?
(see 8K Filing http://www.sec.gov/Archives/edgar/data/789073/000119312511266911/d240798d8k.htm) | Closed | Question Decided | More Info |
| 2009081701 | EMEA DC Voting Members | 10/25/2011 | EMEA Historical Succession Events | European Corporate | | Succession Event | Updates to this list will be posted on an ongoing basis | Ongoing | | More Info |
| 2011092601 | Landesbank Hessen-Thüringen Girozentrale | 10/25/2011 | La Caixa | European Corporate | Has a Succession Event occurred with respect to La Caixa? | Succession Event | Transfer of Assets and Liabilities to Criteria Caixa Corp and listing of Caixa Bank
http://www.caixabank.com/informacioncorporativa/quienessomos_en.html - please see section titled “Creation of CaixaBank” | Closed | Question Decided | More Info |
| 2011100301 | UBS Limited | 10/17/2011 | Victor Company of Japan, Limited | Japan Corporate | Has a Succession Event occurred with respect to Victor Company of Japan, Limited? | Succession Event | Victor Company of Japan, Limited was merged into JVC KENWOOD Corporation with JVC KENWOOD Corporation the surviving entity.
Links to company press releases:
http://www.jvckenwood.co.jp/en/press/2011/08/press_110801_02.pdf
http://www.jvckenwood.co.jp/press/2011/10/press_111003.pdf
| Request Accepted by DC | Question Decided | More Info |
| 2011093001 | UBS AG | 10/13/2011 | Marshall & Ilsley Corporation | North American Corporate | Has a Succession Event occurred with respect to Marshall & Ilsley Corporation? | Succession Event | Please see Markit Summary
Markit Summary | Closed | Question Decided | More Info |
| 2011092201 | General Interest Question | 9/29/2011 | Nationwide Health Properties, Inc. | North American Corporate | Has a Succession Event occurred with respect to Nationwide Health Properties, Inc.? | Succession Event | http://www.sec.gov/Archives/edgar/data/740260/000095012311064751/c19719e8vk.htm | Closed | Question Decided | More Info |
| 2011092301 | Americas DC Voting Members | 9/29/2011 | BJ Services Company LLC | North American Corporate | Has a Succession Event occurred with respect to BJ Services Company LLC? | Succession Event |
http://www.sec.gov/Archives/edgar/data/808362/000095012311061244/h83101e8vk.htm
http://www.sec.gov/Archives/edgar/data/808362/000095012311061244/h83101exv4w4.htm
http://www.sec.gov/Archives/edgar/data/808362/000095012311061244/0000950123-11-061244-index.htm
| Closed | Question Decided | More Info |
| 2011091301 | UBS Limited | 9/16/2011 | Dynegy Holdings Inc. | North American Corporate | Has a Succession Event occurred with respect to Dynegy Holdings Inc.? | Succession Event | Item 8.01 Other Events. On September 1, 2011, DH, then a Delaware corporation, changed its corporate form to a Delaware limited liability company pursuant to Section 266 of the General Corporation Law of the State of Delaware (the "Conversion"). In connection with the Conversion, DH filed a Certificate of Formation of Dynegy Holdings, LLC and a Certificate of Conversion pursuant to the Delaware Limited Liability Company Act with the Delaware Secretary of State. A copy of DH's Certificate of Formation and Limited Liability Company Operating Agreement are attached hereto as exhibits 3.1 and 3.2, respectively. http://www.sec.gov/Archives/edgar/data/1105055/000110465911050890/0001104659-11-050890-index.htm | Closed | Question Decided | More Info |
| 2011090906 | General Interest Question | 9/14/2011 | Marathon Oil Corporation | North American Corporate | Has a Succession Event occurred with respect to Marathon Oil Corporation? | Succession Event | http://www.sec.gov/Archives/edgar/data/101778/000010177811000034/form8k2011july1.htm
On June 30, 2011, Marathon Oil Corporation completed the spin-off of Marathon Petroleum Corporation (“MPC”) to its stockholders. MPC is now an independent public company and its common stock trades under the symbol “MPC” on the New York Stock Exchange.
As part of the spin-off, Marathon Oil Corporation ceased to guarantee $3 billion of notes issued by MPC in February 2011 (i.e., MPC became the sole obligor on the notes). The obligations assumed by MPC represented approximately 37% of the long-term debt of Marathon Oil Corporation (as per page 2 of Marathon’s 10-Q for the quarter ended March 31, 2011: http://www.sec.gov/Archives/edgar/data/101778/000010177811000020/form10q2011q1.htm).
| Closed | Question Withdrawn | More Info |
| 2011080501 | General Interest Question | 9/2/2011 | Caja de Ahorros y Monte de Piedad de Madrid | European Corporate | Has a Succession Event occurred with respect to Caja de Ahorros y Monte de Piedad de Madrid ? | Succession Event | http://www.isda.org/uploadfiles/_docs/Bankia1.pdf
http://www.isda.org/uploadfiles/_docs/Bankia2.pdf
| Closed | Question Decided | More Info |
| 2011072101 | General Interest Question | 9/2/2011 | Caja de Ahorros de Valencia | European Corporate | Has a Succession Event occurred with respect to Caja de Ahorros de Valencia? | Succession Event | http://www.bankia.com/Portal/Home/cruce/0,0,103204_2507116*99499%24P1%3D621,00.html
http://bancaja.es/archivos/institucional/relevantes/Calificación%20Moody's.pdf
| Closed | Question Decided | More Info |
| 2011031402 | General Interest Question | 9/2/2011 | Cadbury Holdings Limited | European Corporate | Has a Succession Event occurred with respect to Cadbury Holdings Limited? | Succession Event | On 16 November 2010, consent was sought from the holders of (a) the ÂŁ300,000,000 5.375 per cent. Notes due December 2014 and (b) the ÂŁ350,000,000 7.25 per cent. Notes due July 2018, each issued by Cadbury Schweppes Finance p.l.c. (the "Issuer") and guaranteed by Cadbury Holdings Limited ("Cadbury") (collectively, the "Notes") for Kraft Foods Inc. to assume the obligations the obligations of the Issuer and Cadbury in respect of the Notes.
The requisite level of consent was obtained following a meeting of the holders of the Notes on 15 December 2010 and the terms and conditions of the 204 Notes and the 2018 Notes were amended on 16 December 2010. Following such amendments, neither the Issuer or Cadbury are obligors in respect of the Notes.
http://www.tradingmarkets.com/news/stock-alert/csg_cadbury-schweppes-finance-plc-statement-re-results-of-consent-solicitation-1369021.html | Closed | Question Decided | More Info |
| 2011061301 | General Interest Question | 8/25/2011 | TNT N.V. | European Corporate | Has a Succession Event occurred with respect to TNT N.V.? | Succession Event | I refer to the email from the DC Secretary dated 7 June 2011 setting out the information received from Markit with respect to the potential Succession Event. | Closed | Question Decided | More Info |
| 2011062201 | TD Securities | 6/30/2011 | Prologis | North American Corporate | Has a Succession Event occurred with respect to Prologis? | Succession Event | See more on ir.prologis.com site | Closed | Question Decided | More Info |
| 2011062002 | Barclays Capital | 6/30/2011 | Northrop Grumman Corporation | Standard North American Corporate | Has a Succession Event occurred with respect to Northrop Grumman Corporation? | Succession Event | We refer to the email from the ISDA DC Secretary dated June 10, 2011.
Pursuant to a plan to spin off its shipbuilding business, on March 30, 2011, the Reference Entity merged into Titan Merger Sub Inc., and changed its name to Tital II Inc. In connection with this spin off, New P, Inc., succeeded to substantially all of the debt of the Reference Entity, and changed its name to Northrop Grumman Corporation.
http://media.corporate-ir.net/media_files/IROL/11/112386/HII_Information_Statement.pdf
http://www.sec.gov/Archives/edgar/data/1133421/000095012311032455/v59140e8vk.htm | Closed | Question Decided | More Info |
| 2010012901 | Japan DC Voting Members | 5/18/2011 | Japan Historical Succession Events | Japan Corporate | | Succession Event | Updates to this list will be posted on an ongoing basis | Ongoing | | More Info |
| 2010102801 | General Interest Question | 5/10/2011 | Raiffeisen Zentralbank Ă–sterreich Aktiengesellschaft | European Corporate | Has a Succession Event occurred with respect to Raiffeisen Zentralbank Ă–sterreich Aktiengesellschaft ? | Succession Event | On 9 October 2010 the demerger of the main part of RZB's assets and liabilities, constituting RZB's "corporate customer business" division including associated shareholdings, to Cembra Beteiligungs AG ("Cembra"), a wholly-owned indirect subsidiary of RZB, was registered in the Austrian commercial register.
On 10 October 2010 the merger of Cembra into its majority-owned subsidiary Raiffeisen International Bank-Holding AG ("RI") was registered in the Austrian commercial register. On the same day RI, being the absorbing entity of the merger, changed its name to Raiffeisen Bank International AG.
http://www.rzb.at/eBusiness/rzb_template2/677051657971876801-NA-684405692831892389-NA-10-EN.html | Closed | Question Decided | More Info |
| 2011021601 | General Interest Question | 5/10/2011 | Brisa Finance B.V. | European Corporate | Has a Succession Event occurred with respect to Brisa Finance B.V.? | Succession Event | On or about 5 January 2011, the Brisa Group confirmed the substitution of Brisa Finance B.V. as issuer of the EUR500,000,000 4.797% Notes due 2013 for Brisa – Concessão Rodoviária, S.A. in the context of the completion of the corporate/business reorganisation of the Brisa Group.
| Closed | Question Decided | More Info |
| 2011030401 | General Interest Question | 5/10/2011 | Brisa Autoestradas de Portugal, S.A. | European Corporate | Has a Succession Event occurred with respect to Brisa Autoestradas de Portugal, S.A.? | Succession Event | http://www.brisa.pt/ResourcesUser/Investidores/Comunicados/BrisaIRDay2010_small.pdf
Pages 94, 96, 108 and 122
Additionally there is a Fitch document available on Bloomberg | Closed | Question Decided | More Info |
| 2011030101 | Goldman Sachs | 5/10/2011 | Brixton PLC | European Corporate | Has a Succession Event occurred with respect to Brixton PLC? | Succession Event | | Closed | Question Decided | More Info |
| 2011012801 | General Interest Question | 4/28/2011 | Mariner Energy, Inc. | North American Corporate | Has a Succession Event occurred with respect to Mariner Energy, Inc.? | Succession Event | http://www.sec.gov/Archives/edgar/data/1022345/000095012310106317/h77786e8vk.htm
http://www.sec.gov/Archives/edgar/data/1022345/000095012310101825/h76865e10vq.htm
http://www.sec.gov/Archives/edgar/data/6769/000095012310105858/h77758e8vkza.htm
http://www.sec.gov/Archives/edgar/data/1022345/000095012310106317/h77786exv4w9.htm
http://www.sec.gov/Archives/edgar/data/1022345/000095012310106317/h77786exv4w5.htm
http://www.sec.gov/Archives/edgar/data/1022345/000095012310035583/h72257exv2w1.htm
| Closed | Question Decided | More Info |
| 2009091001 | Asia Ex-Japan DC Voting Members | 4/21/2011 | Asia Ex-Japan Historical Succession Events | Asia Corporate | | Succession Event | Updates to this list will be posted on an ongoing basis | Ongoing | | More Info |
| 2011031701 | BNP Paribas | 3/22/2011 | SK Energy Co., Ltd | Asia Corporate | Has a Succession Event occurred with respect to SK Energy Co., Ltd? | Succession Event | On 1st January 2011 SK Energy Co., Ltd changed its name to SK Innovation Co. Ltd and on the same day spun off parts of its business to two new entities: SK Global Chemical Co., Ltd and SK Energy Co., Ltd.
| Closed | Question Rejected | More Info |
| 2009081101 | Americas DC Voting Members | 3/21/2011 | Americas Historical Succession Events | North American Corporate | | Succession Event | Updates to this list will be posted on an ongoing basis | Ongoing | | More Info |
| 2010020301 | Australia-New Zealand DC Voting Members | 3/21/2011 | Australia-New Zealand Historical Succession Events | Australia Corporate / New Zealand Corporate | | Succession Event | Updates to this list will be posted on an ongoing basis | Ongoing | | More Info |
| 2011031401 | UBS AG | 3/21/2011 | Maytag Corporation | North American Corporate | Has a Succession Event occurred with respect to Maytag Corporation? | Succession Event | Link to Tenth Supplemental Indenture dated as of 30 December 2010:
http://www.sec.gov/Archives/edgar/data/106640/000119312511035529/dex4vi.htm | Closed | Question Decided | More Info |
| 2010111901 | General Interest Question | 1/19/2011 | Aioi Insurance | Japan Corporate | Has a Succession Event occurred with respect to Aioi Insurance? | Succession Event | http://www.ms-ad-hd.com/en/company/history/index.html | Closed | Question Decided | More Info |
| 2010111201 | General Interest Question | 12/9/2010 | Coca Cola Enterprises Inc. | North American Corporate | Has a Succession Event occurred with respect to Coca Cola Enterprises Inc.? | Succession Event | 8K- filed by Coca Cola Co October 5,2010
On October 2, 2010, the Company completed its previously announced acquisition of the North American operations of CCE, pursuant to the terms of the Business Separation and Merger Agreement, dated as of February 25, 2010 (as amended, the “Merger Agreement”), by and among the Company, CCE, International CCE Inc. (“New CCE”) and Merger Sub.
Pursuant to the terms of the Merger Agreement, (1) prior to the consummation of the Merger, CCE consummated a series of “separation transactions” as a result of which the businesses of CCE (other than CCE’s business in the United States, Canada (other than CCE’s Canadian finance company), the British Virgin Islands, the United States Virgin Islands and the Cayman Islands, as well as a substantial majority of the corporate operating segment of CCE) were transferred to New CCE, and (2) Merger Sub merged with and into CCE, with CCE surviving as a wholly owned subsidiary of the Company. Under the terms of the Merger Agreement, at the effective time of the Merger, each outstanding share of CCE common stock not held by the Company or any dissenting shareowners was converted into the right to receive one share of New CCE common stock and $10.00 in cash, without interest.
In connection with the Merger, CCE was renamed “Coca-Cola Refreshments USA, Inc.”, and New CCE was renamed “Coca-Cola Enterprises, Inc.”
8K- filed by Coca Cola Co October 29,2010
Although the CCE transaction was structured to be primarily cashless, under the terms of the merger agreement, we agreed to assume approximately $8.9 billion of CCE debt and that in the event that the actual CCE debt on the acquisition date was less than the agreed amount, we would make a cash payment to New CCE for the difference. As of the acquisition date, the debt assumed by the Company was approximately $8.0 billion. The total cash consideration paid to New CCE as part of the transaction was approximately $1.3 billion, which included approximately $0.9 billion related to the debt shortfall. The cash payment was made prior to the close of our third quarter of 2010. See discussion of our related party receivable below.
Question:
Coca Cola Co. assumed $8 billion of debt from Coca Cola Enterprises Inc.. Has a succession event occurred ? | Closed | Question Decided | More Info |
| 2010070201 | Mitsubishi UFJ Morgan Stanley | 12/9/2010 | Nippon Oil Corporation | Japan Corporate | Has a Succession Event occurred with respect to Nippon Oil Corporation? | Succession Event | http://www.hd.jx-group.co.jp/english/newsrelease/2010/20100401_01.html
http://www.hd.jx-group.co.jp/english/newsrelease/noc/2009/e71_enpr_100127.html | Closed | Question Decided | More Info |
| 2010111601 | General Interest Question | 11/23/2010 | Brisa Finance B.V | European Corporate | Has a Succession Event occurred with respect to Brisa Finance B.V? | Succession Event | on 5Nov, succesion toward Brisa - Concessao Rodoviaria, S.A
http://www.brisa.pt/ResourcesUser/Investidores/Comunicados/EN/BrisaAOBR5NovUK.pdf | Closed | Question Rejected | More Info |
| 2010101201 | UBS AG | 11/18/2010 | SANYO SHINPAN FINANCE CO., LTD. | Japan Corporate | Has a Succession Event occurred with respect to SANYO SHINPAN FINANCE CO., LTD. ? | Succession Event | On 1 October 2010, Sanyo Shinpan Finance Co., Ltd. was merged into Promise Co. Ltd. via a two step merger with Promise the surviving entity. | Closed | Question Decided | More Info |
| 2010092302 | General Interest Question | 9/27/2010 | XL Capital Ltd | North American Corporate | Has a Succession Event occurred with respect to XL Capital Ltd? | Succession Event | http://www.isda.org/uploadfiles/_docs/Markit_Factual_Summary_s1_XL_Capital_Ltd_21_July_ 2010.pdf
| Closed | Question Rejected | More Info |
| 2010082501 | General Interest Question | 9/17/2010 | Energy Future Holdings Corp. | North American Corporate | Has a Succession Event occurred with respect to Energy Future Holdings Corp.? | Succession Event | Memorandum To: ISDA Americas Determinations Committee (the "DC")
Date: 8/25/2010
Re: Energy Future Holdings Corp.
1. Question Presented: Has a Succession Event occurred with respect to Energy Future Holdings Corp.(the "Question Presented")?
2. Background:
Entities
I. Energy Future Holdings Corp. ("EFH Corp."), the "Reference Entity".
II.
Energy Future Intermediate Holding Company LLC ("EFIH"), a direct, wholly owned subsidiary of EFH
Corp.
III. EFIH Finance Inc. ("EFIH Finance"), a direct, wholly owned subsidiary of EFIH.
IV. Oncor
Electric Delivery Holdings Company LLC ("Oncor Holdings"), a direct, wholly-owned subsidiary of
EFIH.
V. Oncor Electric Delivery Company LLC ("Oncor"), a direct, majority-owned subsidiary of
Oncor Holdings.
See Page 16 at
http://sec.gov/Archives/edgar/data/1445146/000119312510190042/d424b3.htm for more detailed entity
information.
July 2010. On July 16, 2010, EFH Corp. announced that its direct, wholly-owned subsidiary, EFIH, and
EFIH's direct, wholly-owned subsidiary, EFIH Finance, would commence exchange offers (the
"Exchange Offers") to exchange the outstanding 11.250%/12.000% Senior Toggle Notes due 2017 and
10.875% Senior Notes due 2017 of EFH Corp. (collectively, the "Old Notes") for up to $2.18 billion
aggregate principal amount of 10.000% Senior Secured Notes due 2020 to be issued by the EFIH and
EFIH Finance (the "New Senior Secured Notes") and an aggregate of $500 million in cash, upon the
terms and subject to the conditions set forth in the prospectus relating to the Exchange Offers (the
"Prospectus") and the related Consent and Letter of Transmittal. The maximum aggregate principal
amount of New Senior Secured Notes issuable in the Exchange Offers, which is referred to herein as the
"Maximum Exchange Amount," will not exceed $2.18 billion. Source:
http://www.energyfutureholdings.com/news/newsrel/deta il.aspx?prid=1344 The purpose of the Exchange
Offers is to reduce the outstanding principal amount, reduce interest expense and extend the weighted
average maturity, of the long-term debt of EFH Corp. and its subsidiaries. Source:
http://www.energyfutureholdings.com/news/newsrel/detail.aspx?prid=1344
August 2010. On August 13, 2010, EFH Corp. announced the expiration and final results of the
exchanges offers. Source: http://www.energyfutureholdings.com/news/newsrel/detail.aspx?prid=1355 On
August 16, 2010, EFH Corp., EFIH and EFIH Finance filed a final prospectus related to the exchange
offers. Source: http://sec.gov/Archives/edgar/data/1445146/000119312510190042/d424b3.htm
3. Results of the Exchange Offers: The Bonds exchanged represent greater than 25% but less than 75% of
EFH Corp.'s relevant obligations. The table below (Figure 1) from the August 16, 1020 prospectus sets
forth EFH Corp.'s cash and cash equivalents and capitalization as of June 30, 2010 including pro forma as
adjusted for the exchange. Figure 1. Energy Future Holdings Corp. Capitalization Table As Further
Actual As Adjusted Adjusted (a) (millions of dollars) Cash and cash equivalents 1,211 1,204 721 EFH
Corp.: 5.55% due 2014 983 434 434 6.5% due 2024 740 740 740 6.55% due 2034 744 744 744 10.875%
due 2017 1,812 1,787 359 11.25%/12% due 2017 2,758 2,705 539 9.75% due 2019 115 115 115 10.0%
due 2020 606 1,061 1,061 Capital lease obligations 7 7 7 Unamortized fair value discount -569 -493 -493
Total EFH Corp. debt 7,196 7,100 3,506 EFIH: 9.75% due 2019 141 141 141 10.0% due 2020 - - 2,180
Unamortized fair value discount- - - Total EFIH debt 141 141 2,321 Note: "Actual": on an actual basis;
"As Adjusted": on an as adjusted basis to give effect to repurchases and exchanges of EFH Corp.'s and its
subsidiaries' notes since June 30, 2010 described in the Prospectus under "Summary-Recent
Developments" and under "Debt Related Activity in 2010 - 2010 Debt Exchanges and Repurchases" in
Note 6 to EFH Corp.'s unaudited historical interim condensed consolidated financial statements and
related notes for the three and six months ended June 30, 2010 included elsewhere in the Prospectus; and
"As Adjusted Further": on an adjusted basis to give effect to the completion of the exchange offers.
Source: http://sec.gov/Archives/edgar/data/1445146/000119312510190042/d424b3.htm (see page 80).
4. Analysis: Definition of Succession Event: Under the 2003 Definitions, an entity must succeed to a
specified minimum percentage of Relevant Obligations of the Reference Entity by way of a Succession
Event. "Succession Event" means an event such as a merger, consolidation, amalgamation, transfer of
assets or liabilities, demerger, spin-off or other similar event in which an entity succeeds to the
obligations of another entity, whether by operation of law or pursuant to any agreement. Notwithstanding
the foregoing, "Succession Event" shall not include an event in which the holders of obligations of the
Reference Entity exchange such obligations for the obligations of another entity, unless such exchange
occurs in connection with a merger, consolidation, amalgamation, transfer of assets or liabilities,
demerger, spin-off or other similar event. Application of Definition to EFH Corp.: We ask the DC to
consider and evaluate the following factors with respect to the Question Presented: (We note that some of
below the below factors involve calculations based on our own internal review and should be verified by
the DC.) . We calculate EFH Corp.'s Relevant Obligations as approximately $7,586 million prior to the
exchange. In aggregate $3,593.7 million relevant obligations were exchanged, representing approximately
47.4% of EFH Corp.'s Relevant Obligations. (Excluding the cash portion of the exchange, we estimate
approximately $2,913 million EFH Corp. bonds were exchanged, representing approximately 38.4% of
EFH Corp.'s Relevant Obligations.) We note that the new 10% Senior Secured Notes are issued by
Energy Future Intermediate Holding Company and EFIH Finance Inc. and will not be guaranteed by EFH
Corp. . Based on the information provided in the August 16, 2010 prospectus, EFH Corp. transferred
$440 million of cash to EFIH in connection with or just prior to the exchange. Also, EFH Corp. considers
the bond exchange a "recapitalization" (See page 216 of the prospectus which states; "EFH Corp. intends
to take the position that the exchange of Old Notes for New EFIH Senior Secured Notes will qualify as a
recapitalization.") . In our view, the exchange and resulting recapitalization/reorganization should be
considered a significant corporate event that should be included under "a merger, consolidation,
amalgamation, transfer of assets or liabilities, demerger, spinoff or other similar event." Additionally, the
bond exchange was not an isolated event, rather it represented a broader recapitalization and reflected
EFH Corp.'s decision to transfer the financing operations related to its interest in Oncor Holdings to EFIH
(from EFH Corp.). In our view, the transfer of the financing operations is analogous to a demerger or
spin-off. . We think that the recapitalization is a meaningful structural change affecting the Reference
Entity which fundamentally alters the credit risk represented by the credit default swap. The bonds
exchanged represent a significant portion, in both overall amount ($3,593.7 million) and as a percentage
(approximately 47.4%), of EFH Corp.'s relevant obligations prior to the exchange. . EFH Corp.
contributed $440 million to EFIH in connection with the exchange/recapitalization. This should fall under
the definition of a "transfer of assets" which is taking place as part of a larger corporate
reorganization/recapitalization. . Finally, the collateral securing the new 10% Secured notes will consist
of a pledge of all of the membership interests EFIH owns in Oncor Holdings. Oncor Holdings owns
approximately 80% of Oncor Electric Delivery's outstanding membership interests. The granting of
security to bondholders could represent a transfer or a spin-off of assets to bondholders. Pro forma, for the
new $2.18 billion 10% Secured notes, there is approximately $3.5 billion of debt secured by the
membership interests, representing approximately 64% of the book value of the investment (as of June
30, 2010 EFH Corp./EFIH's investment in Oncor Holdings was on its balance sheet for $5.45 billion), up
from approximately 24% prior to the Exchange Offers. We view the granting of security as a significant
event because the Old Notes were unsecured. | Closed | Question Decided | More Info |
| 2010072201 | UBS Limited | 8/24/2010 | Fortis Bank (Nederland) N.V. | European Corporate | Has a Succession Event occurred with respect to Fortis Bank (Nederland) N.V.? | Succession Event | On 1 July 2010, Fortis Bank (Nederland) N.V. merged into ABN AMRO Bank N.V. (ABN AMRO) with ABN AMRO the surviving entity. | Closed | Question Decided | More Info |
| 2010062401 | Mizuho Securities Co., Ltd. | 8/12/2010 | Mitsubishi UFJ Securities Co., Ltd. | Japan Corporate | Has a Succession Event occurred with respect to Mitsubishi UFJ Securities Co., Ltd.? | Succession Event | http://www.sc.mufg.jp/english/e_press/pdf/e_press20091118.pdf
http://www.sc.mufg.jp/english/e_press/pdf/e_press20091225.pdf
http://www.morganstanley.co.jp/press/docs_en/100330_en.pdf
| Closed | Question Decided | More Info |
| 2010072601 | General Interest Question | 8/12/2010 | BJ Services Company | North American Corporate | Has a Succession Event occurred with respect to BJ Services Company? | Succession Event | http://www.sec.gov/Archives/edgar/data/864328/000095012310043651/h72719e8vk.htm
Excerpt:
On April 28, 2010, pursuant to the Agreement and Plan of Merger (the “Merger Agreement”) dated as of August 30, 2009 by and among Baker Hughes Incorporated (“Baker Hughes”), BSA Acquisition LLC (“Merger Sub”) and BJ Services Company (the “Company”), the Company merged with and into Merger Sub (the “Merger”), and the separate existence of the Company ceased. As the surviving entity of the Merger, Merger Sub is the successor registrant to the Company and has been renamed BJ Services Company LLC.
Item 1.01 Entry into a Material Definitive Agreement.
On April 28, 2010, Baker Hughes, Merger Sub and the Company executed and delivered to Wells Fargo Bank, National Association, as trustee (the “Trustee”), the Fourth Supplemental Indenture (the “Fourth Supplemental Indenture”) to the Indenture, dated as of June 8, 2006 (the “Indenture”), among the Company and the Trustee. Pursuant to the Fourth Supplemental Indenture, Merger Sub, upon consummation of the Merger, assumed all of the obligations of the Company in respect of (1) the 5.75% senior notes due 2011 (the “2011 Notes”) issued by the Company pursuant to the First Supplemental Indenture to the Indenture (the “First Supplemental Indenture”), dated as of June 8, 2006, among the Company and the Trustee and (2) the 6.00% senior notes due 2018 (the “2018 Notes”) issued by the Company pursuant to the Third Supplemental Indenture to the Indenture (the “Third Supplemental Indenture”), dated as of May 19, 2008, among the Company and the Trustee.
... | Closed | Question Decided | More Info |
| 2010071401 | Mitsubishi UFJ Morgan Stanley Securities | 7/14/2010 | The Senshu Bank/ Bank of Ikeda, Ltd. | Japan Corporate | Has a Succession Event occurred with respect to The Senshu Bank/ Bank of Ikeda, Ltd.? | Succession Event | Supporting links:
http://www.r-i.co.jp/eng/body/cfp/news_release_C/2010/05/news_release_2010-C-405_01.pdf
http://www.sihd-bk.jp/kokuchi/i/pc.html - in Japanese
http://www.sihd-bk.jp/ - in Japanese
http://www.r-i.co.jp/jpn/body/cfp/news_release_C/2010/04/news_release_2010-C-356_01.pdf - in Japanese, but we understand this is a key document
| DC Deliberating | Question Withdrawn | More Info |
| 2010062201 | EMEA DC Voting Members | 6/22/2010 | EMEA New Succession Event Requests | European Corporate | See EMEA DC resolution attached | Succession Event | Standing resolution put in place by the EMEA DC Voting Members which provides for consideration of each new potential Successor request by the EMEA DC to be deferred until the matter has been reviewed by the EMEA DC legal subcommittee. The question will automatically pass down to the legal subcommittee unless a voting member of the EMEA DC requests that the DC meet earlier. | Closed | Question Decided | More Info |
| 2010061001 | Credit Suisse International | 6/22/2010 | Cable & Wireless PLC | European Corporate | Has a Succession Event occurred with respect to Cable & Wireless PLC? | Succession Event | Earlier this year, Cable and Wireless PLC (C&W PLC) demerged its UK/European operations into a separate company called Cable and Wireless Worldwide PLC. That left C&W PLC holding only the emerging markets telecom operations, including operators in Panama, Macau, Monaco and a number of Caribbean island states. These are now held by a new holding company called Cable and Wireless Communications PLC. As part of this demerger, several obligations were transferred to Cable and Wireless Worldwide. The demerger was effective on the morning of March 26. A Mark-it factual summary of this event is available.
| Closed | Question Decided | More Info |
| 2010060102 | Goldman Sachs | 6/14/2010 | Nordic Telephone Company Administration ApS | European Corporate | Has a Succession Event occurred with respect to Nordic Telephone Company Administration ApS? | Succession Event | See the Markit Factual Summary circulated by the ISDA DC Secretary on 23 April confirming that a merger occurred in relation to Nordic Telephone Company Administration ApS on 13 April 2010 and Angel Lux Common S.A. (previously Angel Lux Common S.a.r.l) is the surviving entity and assumed all obligations of Nordic Telephone Company Administration ApS
http://www.isda.org/uploadfiles/_docs/Markit_Factual_Summary_Nordic_Telephone_Company_Administration_ApS.pdf | Closed | Question Decided | More Info |
| 2010050401 | Credit Suisse | 5/5/2010 | Affiliated Computer Services, Inc. | North American Corporate | Has a Succession Event occurred with respect to Affiliated Computer Services, Inc.? | Succession Event | http://www.isda.org/dc/docs/MarkitFactualSummary-AffiliatedComputerServicesInc28Apr2010.pdf | Closed | Question Decided | More Info |
| 2010030301 | General Interest Question | 5/5/2010 | Northwest Airlines, Inc. | North American Corporate | Has a Succession Event occurred with respect to Northwest Airlines, Inc.? | Succession Event | As per page 2 of Delta Air Lines Inc.'s 10-K filed on February 24, 2010, in October 2008, a wholly-owned subsidiary of Delta merged with and into Northwest Airlines Corporation (“Northwest”). As a result of this merger, Northwest and its subsidiaries, including Northwest Airlines, Inc. (“NWA”), became wholly-owned subsidiaries of Delta. On December 31, 2009, NWA merged with and into Delta, ending NWA’s existence as a separate entity.
Link to the 10-K | Closed | Question Decided | More Info |
| 2010041301 | Goldman Sachs | 4/22/2010 | Burlington Northern Santa Fe, Corporation | North American Corporate | Has a Succession Event occurred with respect to Burlington Northern Santa Fe, Corporation? | Succession Event | Based on the attached 8K, we believe a succession event occurred on February 12, 2010 when the Reference Entity was merged into a subsidiary of Berkshire Hathaway, Inc. The merger sub (and successor) was renamed Burlington Northern Santa Fe, LLC upon the consummation of the merger.
Link | Closed | Question Decided | More Info |
| 2010030801 | BNP Paribas | 4/14/2010 | Nordic Telephone Company Holding ApS | European Corporate | Has a Succession Event occurred with respect to Nordic Telephone Company Holding ApS? | Succession Event | See website link - http://tdc.com/ir/releases/index.php?id=466940
In connection with the merger of Nordic Telephone Company Holding ApS (NTCH), Nordic Telephone Company Finance ApS, Nordic Telephone Company Investment ApS and Nordic Telephone Company Administration ApS (NTCA), the latter has received Nordic Telephone Company Holding ApS' 174,369,910 shares in TDC A/S, equivalent to 87.9% of the aggregate share capital and 87.9% of the total voting rights. NTCH was dissolved as part of the merger and NTCA repaces NTCH as issuer under the 2016 Notes.There are no other bonds at the NTCH entity. | Closed | Question Decided | More Info |
| 2010031501 | BNP Paribas | 3/19/2010 | St George Bank Limited | Australia Corporate | Has a Succession Event occurred with respect to St George Bank Limited? | Succession Event | Below is a summary of the detail found in publicly available sources:
1. Effective 1st Dec 2008 - WESTPAC BANKING CORPORATION acquired St.George Bank Limited by way of merger via a Scheme of Arrangement.
2. Effective 1st March 2010 - WESTPAC BANKING CORPORATION and St.George Bank Limited completed the single authorized deposit-taking process. As a result, St.George Bank Limited de-registered, effectively dissolving & becoming an inactive entity as of 1st March 2010.
3. Following de-registration, "By moving to a single ADI:
Westpac will become the successor in law of St.George Bank Limited;
All the assets and liabilities of St.George Bank Limited (including in respect of its deposits and contracts) will become the assets and liabilities of Westpac. This also includes all debt securities previously issued by St.George Bank Limited; and
Separate regulatory and prudential reporting by St.George Bank Limited will cease and be amalgamated in Westpac’s reports. This includes regular banking statistics and points of presence information.
The Westpac Group will continue to report the performance of the St.George business as part of its regular periodic reporting."
4. Supporting links
Link 1
Link 2
Link 3
Link 4
Link 5
Link 6
Link 7(previously_of_st.george) | Closed | Question Decided | More Info |
| 2010012801 | Barclays Bank PLC | 2/12/2010 | Schering-Plough Corporation and Merck & Co., Inc. | North American Corporate | Has Schering-Plough Corporation changed its name to "Merck & Co., Inc." and has Merck & Co., Inc. changed its name to "Merck Sharp & Dohme Corp.", effective on or about 3 November 2009? Do you agree that no Succession Event has occurred in relation either of these two entities following the merger between them, effective on or about 3 November 2009? | Succession Event | 8-K for Merck & Co., Inc. (formerly Schering-Plough Corporation):
http://www.sec.gov/Archives/edgar/data/310158/000119312509223917/d8k.htm
The Introductory Note to the 8-K describes the name changes and Item 2.03 describes the financial aspects of the merger. | Closed | Question Decided | More Info |
| 2009120302 | GSO Capital Partners LP | 12/4/2009 | Hellas Telecom (Luxembourg) II | European Corporate | Has a Succession Event occurred with respect to Hellas Telecommunications (Luxembourg) II? | Succession Event | Link to further information provided: http://www.isda.org/uploadfiles/_docs/Issue_Number_2009120302_Supporting_information.doc
| Closed | Question Decided | More Info |
| 2009100501 | BNP Paribas | 10/27/2009 | Union Fenosa S.A. | European Corporate | Has a Succession Event occurred with respect to Union Fenosa S.A.? | Succession Event | Effective 1st September, 2009, Union Fenosa S.A. merged with and into Gas Natural SDG, S.A.
See Markit report - link
See press release on Gas Natural SDG, S.A.'s website - link | Closed | Question Decided | More Info |
| 2009100203 | ING Bank N.V. | 10/27/2009 | Fortis Bank (Nederland) N.V. | European Corporate | Has a Succession Event occurred with respect to Fortis Bank (Nederland) N.V.? | Succession Event | On 01 September 2009, Fortis Bank (Nederland) N.V. has merged into Fortis Bank Nederland (Holding) N.V.
Link 1
Link 2 | Closed | Question Decided | More Info |
| 2009102601 | BNP Paribas | 10/27/2009 | Britannia Building Society | European Corporate | Has a Succession Event occurred with respect to Britannia Building Society? | Succession Event | On Jan 21, 2009, the boards of Britannia Building Society and The Co-operative Financial Services jointly announced a merger between the two institutions.
The merger was approved on April 29, 2009. Effective Aug 1, 2009, Britannia Building Society merged with The Co-operative Bank plc and was dissolved and ceased to exist as a legal entity.
The merger was effected through a transfer of the business, assets and liabilities of Britannia to The Co-operative Bank plc under section 97 of the Building Societies Act 1986.
See:
http://www.co-operativebank.co.uk/images/pdf/Final_Prospectus_Perpetual_Subordinated_Bonds.pdf
and
http://www.co-operativebank.
co.uk/servlet/Satellite?c=Page&cid=1248250341250&pagename=Corp%2FPage%2FtplCorp
According to Investor Relations at The Co-operative Financial Services:
“Effective 1st August 2009 through use of section 97 of the Building Societies Act 1986, as modified by the Mutual Societies(Transfers) Order 2009 made under Section 3 of the Building Societies (Funding) and Mutual Societies (Transfers) Act 2007, all assets
and liabilities of Britannia Building Society were transferred to The Co-operative Bank p.l.c.
The issuances of Permanent Interest Bearing Shares (PIBs) by Britannia converted automatically into Perpetual subordinated bonds
(PSBs) of the Bank in accordance with their terms (which in turn derived from building society legislation) with effect from the merger
date.
In relation to all other forms of Britannia debt issued/in existence at merger, all agreements and deeds to which Britannia Building
Society was a party in respect of such debt are now construed as if The Co-operative Bank p.l.c had been the original party to the
agreement or deed and references in any such document to Britannia Building Society should be read as references to The Co-operative
Bank Plc. This change took effect from the merger date (1st August 2009) by operation of law.” | Closed | Question Decided | More Info |
| 2009100101 | Americas DC Voting Members | 10/1/2009 | Petro-Canada | North American Corporate | Has a Succession Event occurred with respect to Petro-Canada? | Succession Event | See Markit report | Closed | Question Decided | More Info |
| 2009070101 | Landesbank Baden-Wuerttemberg | 8/17/2009 | UNION FENOSA S.A. | European Corporate | Has a Succession Event occurred with respect to UNION FENOSA S.A.? | Succession Event | http://portal.gasnatural.com/servlet/ContentServer?gnpage=3-10-1¢ralassetname=3-NOT-290609-JUNTAFENOSA¢ralassettype=Noticia
| Closed | Question Decided | More Info |
| 2009070801 | Landesbank Hessen-Thüringen Girozntrale | 8/17/2009 | CIBA Holding AG | European Corporate | Has a Succession Event occurred with respect to CIBA Holding AG? | Succession Event | http://www.basf.com/group/corporate/en/function/conversions:/publish/content/news-and-media-relations/news-releases/downloads/P206-Ciba-mail-e.pdf | Closed | Question Decided | More Info |
| 2009081401 | JP Morgan | 8/14/2009 | Dresdner Bank AG | European Corporate | Has a Succession Event occurred with respect to Dresdner Bank AG? | Succession Event | Please refer to the Historical Succession Event List. | Closed | Question Decided | More Info |
| 200904152 | JPMorgan Chase Bank, N.A. | 5/27/2009 | Energy East Corporation | North American Corporate | Has a Succession Event occurred with respect to Energy East Corporation? | Succession Event | Press release showing bonds and loans
o/s | Closed | Question Decided | More Info |
| 2009051301 | CREDIT AGRICOLE ASSET MANAGEMENT | 5/15/2009 | SWISS REINSURANCE COMPANY | European Corporate | Has a Succession Event occurred with respect to SWISS REINSURANCE COMPANY? | Succession Event | Refer to this link from DTCC | Closed | Question Decided | More Info |
| 2009050703 | Credit Suisse | 5/8/2009 | The Bear Stearns Companies LLC | North American Corporate | Has a Succession Event occurred with respect to The Bear Stearns Companies LLC (formerly known as "The Bear Stearns Companies Inc.") on 2/27/09, with the result that JPMorgan Chase & Co. is the sole Successor in respect of such Reference Entity? | Succession Event | See Markit report | Closed | Question Decided | More Info |
| 2009050702 | Credit Suisse | 5/8/2009 | Wachovia Corporation | North American Corporate | Has a Succession Event occurred with respect to Wachovia Corporation on December 31, 2008, with the result that Wells Fargo & Company is the sole Successor in respect of such Reference Entity? | Succession Event | See Markit report | Closed | Question Decided | More Info |
| 2009050701 | Credit Suisse | 5/8/2009 | National City Corporation | North American Corporate | Has a Succession Event occurred with respect to National City Corporation on December 31, 2008, with the result that The PNC Financial Services Group, Inc. is the sole Successor in respect of such Reference Entity? | Succession Event | http://idea.sec.gov/Archives/edgar/data/713676/000095012309000025/y73625ke8vk12b
http://news.prnewswire.com/DisplayReleaseContent.aspx?
http://idea.sec.gov/Archives/edgar/data/713676/000089882208001057/merger.htm
http://idea.sec.gov/Archives/edgar/data/713676/000089882208001057/final8ktomergeragmt.htm
http://www2.sos.state.oh.us/reports/rwservlet?imgc&Din=200900901480 | Closed | Question Decided | More Info |
| 2009042701 | Aurelius Capital Management, LP | 5/8/2009 | MBIA Insurance Corporation | North American Corporate | Has a Succession Event occurred with respect to MBIA Insurance Corporation? | Succession Event | Refer to http://www.isda.org/dc/docs/MBIAAdditionalInfo.pdf and http://www.isda.org/dc/docs/Aurelius Submission to Determinations Committee 5-4-09.pdf | Closed | Question Decided | More Info |
| 200904166 | Primus Financial Products, LLC | 4/22/2009 | BAA Ltd. | European Corporate | Has a Succession Event occurred with respect to BAA Ltd.? | Succession Event | It appears that as of the end of August 2008, Baa Funding succeeded to all of the debt of Baa Ltd.
Is this a succession event | Closed | Question Dismissed | More Info |