Exit consents *

Ireland, United Kingdom - August 9 2012
In an important judgment handed down on Friday 27 July 2012 (Assénagon Asset Management S.A. and Irish Bank Resolution Corporation Limited (formerly Anglo Irish Bank Corporation Limited (Anglo Irish)) Justice Briggs, sitting at the High Court, Chancery Division, upheld a challenge to the commonly used restructuring technique of “exit consents” used in English law governed bonds on the basis that this technique was an abuse of power by the majority and “at variance with the purposes for which majorities in a class are given power to bind minorities”.

Co-authors: Tracy K. Edmonson, John Houghton.

Changes to the UK listing regime: reclassification of listed securities and additional continuing obligations for overseas companies with GDR listings on the London Stock Exchange *

United Kingdom - May 11 2010
In 2007, the United Kingdom Financial Services Authority (the FSA) entered into a consultation exercise with market participants to address a perceived lack of clarity in the categorisation of securities listed on the official list of the UK Listing Authority (the Official List).

Co-authors: Lisa J. Dean .