Tag: Lehman
Lehman v ExxonMobil (2016) – Office hours and wrong numbers in the dying days of Lehman Brothers
Lehman Brothers International (Europe) v ExxonMobil Financial Services BV [2016] EWHC 2699 (Comm) Whilst many know of the infamous collapse of Lehman Brothers, not many are aware of how the fallout from this has helped to clarify important business terms. In a recent dispute between Lehman Brothers (Lehman) and ExxonMobil (Exxon), the High Court was […]
The Indicative Quote is dead (1992), long live the Indicative Quote (2002)
The High Court in the UK[1] recently clarified important parameters of the Market Quotation process under the 1992 ISDA Master Agreement. It is now established that quotations must be obtained on or after the Early Termination Date and that “live” quotes must be obtained. Backdated or indicative quotes are definitely unacceptable. These questions had remained […]