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Clifford Chance

Clifford Chance


Swaps and insolvency: the Supreme Court throws a spanner in the works

11 December 2015


I. RDL 5/2005, as special legislation displacing the Insolvency Law

II. Article Sixteen of RDL 5/2005

III. Spanish case law on swap debt

IV. The current situation

V. The Judgment of 18 November 2015

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