In 2001.11, when Railtrack became insolvent, Nomura attempted to settle the CDS through delivery of Railtrack convertible bonds.
在2001.11，当铁路公司破产，野村试图通过铁路公司提供的可转换债券对信用违约互换进行交割。
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The disputed matter was whether convertible bonds constitute "deliverable obligations" under the 1999 Definitions, Nomura had purchased protection under a CDS from CSFB on Railtrack.