On January 24, 2017, the New York State Supreme Court, Appellate Division, First Department, issued an opinion in a widely-watched case involving the interpretation of credit default swap contracts, Good Hill Master Fund, L.P. v. Deutsche Bank AG. The court upheld the trial court’s findings and decision in several respects. As it stands, this decision would likely have a significant impact on the credit default swap market and derivatives markets in general.
In this client alert, RK&O partner, Julia Lu, offers a brief summary of the facts, the decisions and a few lessons learned so far.
To read the client alert, please click here.