BNPP’s English court win calms ‘jurisdiction shopping’ fears
Unanimous decision reaffirms importance of English law provisions in derivatives contracts, say lawyers
A decision by an English court to throw out an Italian corporate’s attempt to move jurisdiction of an International Swaps and Derivatives Association agreement to Italy should soothe market participants’ concerns about alternative interpretations of the contract, say lawyers.
On May 7, the England and Wales Court of Appeal ruled in favour of BNP Paribas’ effort to hear a swap dispute against Italian company Trattamento Rifiuti Metropolitani in England. TRM wanted to have the matter heard in
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