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International Law

: Bank Law Blog

Insolvency set-off - building societies

By 1banklawblogger

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The Financial Markets Law Committee have published their December 2007 paper proposing that the mandatory insolvency set-off rule should be applied to building societies and incorporated friendly societies.   Insolvency Rule 4.90 doesn’t apply to them at present.  This leads to uncertainty in the financial markets when such entities are counter-parties because participants can’t provide clean legal opinions on [...]

Full post as published by Bank Law Blog on February 27, 2008 (boomark / email).

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