Ever signed up for a subscription, forgotten about it, and then been charged $100 a year later because it’s auto-renewed? Imagine doing the same, except add a few zeroes.

In this episode of Cloud 9fin, David Hahn of Davis Polk talks to reporters Tom Quinn and Yiwen Lu about the emergence of snooze/lose clauses in the US credit market: how they work (and crucially, how they work differently to Europe) and their impact on US voting mechanics.

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