Last week, LSTA General Counsel participated in a podcast moderated by Sarah Gefter of Reorg Research on the a topic of claims trading, a topic of great importance to many participants in the loan market. The podcast included Cindy Chen Delano of Whitebox Advisors and Peter Lupoff, a long-time participant in the distressed markets, and was sparked by an article he recently published, “Character is Doing Right When No One is Looking – Oral Commitments and Moral Casualness in Trading of Trade Claims”, focusing on the importance of the enforceability of oral commitments in claims trading.
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Membership in the LSTA offers numerous benefits and opportunities. Chief among them is the opportunity to participate in the decision making process that ultimately establishes loan market standards, develops market practices, and influences the market’s direction.