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Who is the noteholder and who is the creditor

Introduction

Towards the end of 2020, while businesses were reeling from the challenges of grappling with a global pandemic, the end of the Brexit transition period and LIBOR transition, the Law Commission published a paper analysing the current law underlying intermediated securities - Intermediated securities: who owns your shares? A Scoping Paper.

European Union, France, United Kingdom, Company & Commercial, Insolvency & Restructuring, Public, Stephenson Harwood LLP, Brexit, Libor
Review of Target Board LBO Practices May Be Warranted Based on the Nine West Decision-But We Believe the Decision’s Impact Has Been Overstated

Business headlines have warned of a potential “chilling effect on buyouts” as a result of the decision recently issued by the U.S. District Court for the Southern District of New York in In re: Nine West LBO Securities Litigation (Dec. 4, 2020). Contrary to the views of some other commentators on the decision, we do not believe that the decision is likely to chill leveraged buyout activity, to upend how LBOs have been conducted, or to significantly increase the potential of liability for target company directors selling the company in an LBO.

USA, Company & Commercial, Corporate Finance/M&A, Insolvency & Restructuring, Litigation, Fried Frank Harris Shriver & Jacobson LLP, Private equity, Leveraged buyout, US District Court for the Southern District of New York