Alerts

New Amendments to Bankruptcy Code Favor Financial Contract Participants

April 15, 2005

The new Bankruptcy Code amendments that have been approved by Congress will be welcomed by members of the financial community, particularly those dealing in swaps, repos and other financial contracts. Industry leaders proclaim that with respect to OTC derivatives and other financial contracts, the Bankruptcy Abuse Prevention & Consumer Protection Act of 2005 vastly improves the financial contract provisions of the Bankruptcy Code for the benefit of U.S. market participants.