The International Swaps and Derivatives Association, Inc. (ISDA) announced today that its Japan Credit Derivatives Determinations Committee resolved that a bankruptcy credit event has occurred in respect to Takefuji Corporation. The Committee also voted to hold an auction for Takefuji.
ISDA will facilitate the process by publishing the auction terms on its website www.isda.org/credit in due course. The auction will be administered by Markit and Creditex.
