LPD Seminar: Credit Derivatives & the Credit Crunch: a weapon of mass destruction after all?
19 March 2009
Presented by the Ross Parsons Centre of Commercial, Corporate and Taxation Law
Speaker: JJ de Vries Robbé, Dutch Development Bank FMO
Chair: Th Hon Justice RP Austin, Justice of the Supreme Court of NSW
Commentator: John Currie, Henry Davis York
This seminar discusses the role of credit derivatives in the financial crisis. Credit derivatives (a very common type of derivative that in some aspects resembles an insurance contract) have come under heavy criticism. They are alleged to have contributed to the severity of the credit crunch because of their lack of transparency and because they facilitated the shorting of credit. Is this criticism justified, and is strict regulation the answer? Or are credit derivatives simply a scapegoat? What have credit derivatives done for our country?
JJ de Vries Robbé has been active in structured finance in private practice and as in-house counsel, both in Europe and in Australia. His practice comprises debt capital markets, derivatives and structured finance generally, with a particular interest in credit derivatives and microfinance. He has published various books on securitisation and derivatives, and contributed to domestic and international legal journals. He has lectured at the universities of Amsterdam, Melbourne and Sydney. His most recent book is Securitization Law and Practice in the Face of the Credit Crunch (International Banking & Finance Law Series), Kluwer Law International, 2008.
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Location: Sydney Law School, Building F10, Eastern Avenue, University of Sydney
Contact: Events Coordinator
Phone: (02) 9351 0248