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United Kingdom - May 10 2013
Nearly three years after the High Court decision on the case of BNY Corporate Trustee Services Ltd v Eurosail UK 2007 - 3BL PLC and others was handed…
Germany - March 24 2011
Earlier this week, the highest civil appeals court in Germany (the Federal Supreme Court (Bundesgerichtshof)) overturned two prior decisions from lower courts (LG Hanau 9 O 1501/07; OLG Frankfurt 23 U 175/08) and ruled that Deutsche Bank AG ("Deutsche Bank") failed to properly advise Ille Papier Service GmbH ("IPS"), a supplier of paper products, as to the risks of certain interest rate swaps products.
United Kingdom - March 8 2011
The Court of Appeal has allowed companies around the country to breathe a solvent sigh of relief, as it has held that the so-called "balance sheet" test of insolvency in s123(2) Insolvency Act 1996 is intended to apply where a company has reached a "point of no return" rather than being used as a "mechanistic, even artificial, reason for permitting a creditor to present a petition to wind up a company".
United Kingdom - October 25 2010
The scope of the powers afforded to the security agent by the so called "release provisions" found in many intercreditor agreements employed in LBO deals has come under scrutiny recently.
European Union - October 26 2009
The joint administrators of Lehman Brothers International (Europe) ("LBIE") have released their second statutory six month progress report for the period 15 March 2008 to 14 September 2009 (the "Report").
