The first appeal ruling from the newly formed UK Supreme Court concerned the construction of a clause setting out the distribution of assets in a collapsed structured investment vehicle (“SIV”). For the creditors attempting to salvage the remains of the SIV, and onlookers in similar situations, the judicial process has been a rollercoaster ride which has left them reeling.
Filed under:
United Kingdom, Insolvency & Restructuring, Litigation, Securitization & Structured Finance, White & Case, Security (finance), Market liquidity, Margin (finance), Subprime lending, Deed, Liability (financial accounting), Majority opinion, Trustee, Supreme Court of the United States, Court of Appeal of England & Wales, High Court of Justice (England & Wales), UK Supreme Court
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