Description | The firm, a long-standing adviser to ISDA, helped it act as a custodian to the Master Agreement governing the derivatives industry in recent litigation which dealt with the consequences of default events. Although ISDA had no financial stake in the litigation, it wanted to be a party to it for the good of the financial markets in general. Allen & Overy was critical in helping ISDA form its strategy in a case which is likely to have serious impact for financial institutions. |