When the shoe does not fit: direct action clauses - can investors step into the Trustee’s shoes to enforce?

A recent High Court case (Fairhold Securitisation Limited v Clifden IOM No 1 Ltd) has affirmed that in debt issuances involving a trustee, noteholders have only limited rights to take direct enforcement action. The case confirmed that:

Filed under:
United Kingdom, Insolvency & Restructuring, Litigation, Hogan Lovells, Insolvency Act 1986 (UK)
Authors:
Kit Johnson , Andrew Carey , Jill Barraclough , Megan James
Location:
United Kingdom
Firm:
Hogan Lovells