New Prime Finance panel could tackle debt crisis disputes
An arbitration panel set up to tackle derivatives disputes could also tackle eurozone debt crisis issues, says Jeffrey Golden, architect of the Isda master agreement
As of last month, parties locked in a derivatives dispute will be able to refer their case to a new arbitration panel, instead of turning to the courts – an avenue the panel’s backers hope will see issues resolved with less time and expense.
The Panel of Recognised International Market Experts in Finance (Prime Finance) was inaugurated in The Hague on January 16–17 – start-up funding has been provided by the Dutch government – and draws on the resources of 80 legal, judicial and regulatory
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