Energy market focuses on counterparty risk
Avoiding counterparty meltdown
It often takes an unfortunate turn of events to remind firms how important vigilance can be. And when it comes to counterparty risk, that statement is particularly true. Energy firms have seen plenty of these – the bankruptcy of Houston-based behemoth Enron in 2001 was a seminal moment for the market and a stark reminder of the importance of counterparty risk management. However, the failure of investment bank Lehman Brothers in September 2008 has arguably carried much broader implications for
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