Emma Bibby and Alejandro Birsan, our DRS summer interns in 2024, have written a blog post on the recent case of RTI v MUR Shipping BV. In the recent case of RTI v MUR Shipping BV, the Supreme Court overturned the Court of Appeal and found that “reasonable endeavours” wording in a force majeure clause […]

Emma Bibby and Alejandro Birsan, our DRS summer interns in 2024, have written a blog post on the ISDA Close-out Framework published by ISDA on 27 June 2024 Summary Because of regulatory requirements implemented as a consequence of the financial crisis in 2008, the world of collateralised OTC derivative contracts became more complex in the […]

Document Risk Solutions Ltd Introduction from the Chief Operating Officer It continues to be a priority for Document Risk Solutions Ltd to ensure that we trade ethically, source responsibly and work to prevent modern slavery and human trafficking throughout our organisation and in our supply chain. This statement highlights the key activities we have undertaken […]

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At DRS, we offer outsourced contract management solutions.  In simple terms, we help our clients to negotiate contracts from scratch, to amend them when and if necessary, and to properly understand what they say. Prospective clients sometimes look at the services we offer as being interchangeable with those of the temp market.  I think that […]

Jemima Jenks, who has been with us for the last two weeks on work experience, has written a blog post on the topic of “reasonable endeavour”. Read on to find out more. Thanks to Jemima! Many commercial contracts include provisions which impose ABSOLUTE obligations on one or both of the parties (for example, ‘you MUST […]

A “Tax Event” occurs if either party to a GMRA (known as the “notifying party”) notifies the other that, in its reasonable opinion: has or will have a material adverse effect on that party in the context of a Transaction. The notifying party must, if requested to do so by the other party, provide an […]

The “Repurchase Price” is the amount paid by the Seller to the Buyer on the “Repurchase Date”.  Any failure to do so constitutes an Event of Default for the purposes of the GMRA.  It is easiest to think of the “Repurchase Price” in terms of a loan transaction.  In these circumstances, the “Repurchase Price” would […]

There has been a long-standing concern that banks are not fully complying with obligations to revise and refresh their netting opinions. Credit institutions are fully incentivised to comply with these requirements by the significant capital “savings” if netting is applicable. However, the same obligations apply to the buy side- at least those entities who are […]