ISDA DC `dismisses` Noble CDS question again
(WorldNews Business)

By Helen Bartholomew LONDON, Sept 20 (IFR) - ISDA`s determinations committee has dismissed a default question relating to Noble Group for a second time, meaning that protection holders must revert to the bilateral settlement process in order to trigger their contracts. In a separate vote on a rephrased interpretation question, the Asia ex-Japan DC also resolved that in order to trigger CDS, protection holders must produce a `qualifying guarantee` that is sufficient to confirm whether an extension to the commodity trader`s US$2.03bn loan constitutes a credit event. Given...