‘calculation of Close-out Amount under the 2002 ISDA (International Swaps and Derivatives Association, Inc.) Master Agreement. Is it open to a Determining Party to remake a determination of Close-out Amount? Did the change in wording from ‘reasonably determines in good faith’ in the 1992 ISDA Master Agreement to ‘act in good faith and use commercially reasonable procedures in order to produce a commercially reasonable result’ in the 2002 ISDA Master Agreement have the effect of replacing a requirement for a rational decision with a requirement for an objectively reasonable decision?’
Citations:
[2018] EWHC 487 (Comm), [2018] WLR(D) 157
Links:
Jurisdiction:
England and Wales
Financial Services, Contract
Updated: 06 April 2022; Ref: scu.606425
