Oireachtas Joint and Select Committees
Wednesday, 11 March 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Professor Patrick Honohan:
That would be for derivatives. An event of default is something that would be determined in a derivatives ISDA model because that would be written into the contract as they would define it, but for bonds a court could eventually decide. I am not a specialist in the exact process.
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