NYLJ: clarity on repo collateral valuation in dysfunctional markets is a long way away

Shmuel Vasser, business restructuring and bankruptcy lawyer at Dechert LLP, writes that the question of what defines a dysfunctional market, one that justifies the application of the discounted cash flow method, remains unanswered, leaving investors with continued uncertainty in the valuation of repo collateral in bankruptcy cases. Unless and until courts provide meaningful guidance, the resolution would remain speculative.

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