(This article appears courtesy of International Financial Law Review, sign up for a free trial on their site)
Rachel Evans
Staff writer
“When markets go down hill, it’s a lawyer’s waking nightmare and a wet dream at the same time,” says one structured finance partner in London. “You’re terrified that your documentation won’t hold up but you’re also secretly thrilled that all that backroom drafting will finally get some attention.”
Unfortunately some of that backroom drafting, particularly in structured finance, is rather unclear.
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