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28.03.17

Bonds, difficult issues of interpretation, and the role of the trustee

In a recent Butterworths Journal of International Banking & Financial Law article, Jeremy Cousins QC looks at the surprising extent to which the Supreme Court was prepared, in BNY Mellon Corporate Trustee Services Ltd v LBG Capital No 1 plc and another [2016] Bus LR 725,  to take into account commercial background (including CRD IV, which was not introduced until several years later) when interpreting loan notes issued in 2009. He also considers the important role played by the issue’s trustee in bringing about cost-effective and speedy resolution of this complex and extremely high value litigation.

To read the full article please click here.

This article was first published in the January 2017 edition of Butterworths Journal of International Banking & Financial Law.