12/15/2009

The committee in Japan that governs credit default swaps has been grappling with whether the private debt-restructuring process of Aiful would trigger payouts on the contracts. The 15-member panel has rejected requests from swaps holders to be paid, saying there is a lack of publicly available information on the situation. Now, an unnamed market participant has asked the committee whether CDS payouts would be triggered in a similar situation if public information were available.

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Bloomberg

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