- 1992 or 2002 Master Agreement and long form confirmations
- What are the facts of the case?
- What did the judge rule?
- Mistake in the contract
- Construction or rectification?
- Why did it matter which ISDA Master Agreement applied?
- What should practitioners take away from the case?
Banking & Finance analysis: This analysis will discuss LSREF III Wight Limited v Millvalley Limited, in which the parties argued whether a swap confirmation was governed by International Swaps and Derivatives Association’s (ISDA) 1992 or 2002 Master Agreements. The case contains a particularly interesting discussion about the difference between construction and rectification. It also highlights the potential pitfalls of using long-form confirmations.
Sign in or take a trial to read the full analysis.
To continue reading this news article, as well as thousands of others like it, sign in to LexisPSL or register for a free trial