Bylined article by London Derivatives and Structured Products partner Chris Arnold, Litigation & Dispute Resolution associate Lauren Theodoulou and Banking & Finance associate Bourn Collier on inaugural decision of the External Review Panel of the ISDA EMEA Determinations Committee as to whether a Governmental Intervention Credit Event had occurred upon the re-transfer of certain bonds from the bridge bank, Novo Banco S.A., back to Banco Espírito Santo, S.A. pursuant to a bank resolution measure.