Hong Kong

ISDA submission to Hong Kong Monetary Authority’s consultation paper (CP 20.01) on Rules on Contractual Stays on Termination Rights in Financial Contracts for Authorized Institutions under the Financial Institutions (Resolution) Ordinance (Chapter 628) published 22 January 2020.

Addressing Termination Troubles

When Enron announced a shock $618 million loss on October 16, 2001, it took a further 47 days until it filed for bankruptcy. For Bear Stearns, it took 266 days between its bailout of a structured credit fund run by...