When I used to advise organisations on contract negotiation, I always advised them to concede whatever costs them little, but get in return concessions that cost the other party little. Whether CLH had PDLs that had a contractual provision not to sell the PDLs into the secondary market, or not, CCP would have sought the original owner's OK, because CCP would want to buy PDLs from them in future. Some of the debtors in the CLH book would have been valued at near-zero, so agreeing to waive collecting on valueless debt at the behest of any bank, would have been an indulgence in apparent magnimity.
CCP Price at posting:
$32.12 Sentiment: Hold Disclosure: Not Held
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