The EMEA Determinations Committee, which oversees the credit default-swap market in the region, has ruled that Intrum’s Chapter 11 filing constitutes a credit event, according to a statement late Tuesday, paving the way for a payout.
- EMEA DC said a bankruptcy credit event occurred on Nov. 15 when the Swedish debt collector’s filing took place
- The committee plans to meet again on Nov. 21 to discuss settlement
- A ruling that a credit event has occurred paves the way for a payout for holders of CDS tied to Intrum’s debt
- NOTE: Nov. 15,
Sweden’s Intrum Files for Bankruptcy in US to ...
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