Cryptoassets are traded on a global basis. Indeed, the markets are even more global and constant than markets in more conventional financial instruments, rivalled only perhaps by the FX markets in their reach.
Global, USA, Delaware, Banking, Compliance Management, Insolvency & Restructuring, IT & Data Protection, Collyer Bristow LLP, Corporate governance, Blockchain, Due diligence, Cryptocurrency
UK High Court Confirms Broad Definition of a “Financial Institution” – (Re Olympia Securities Commercial Plc (in administration) [2017] EWHC 2807 (Ch))
The High Court has confirmed it will adopt a broad definition of a “financial institution” for the purposes of the transferability provisions in a loan agreement including: (i) a newly incorporated company with a share capital of £1, (ii) an entity that has not traded and (iii) a special purpose vehicle established for the purpose of acquiring debt.
Facts
United Kingdom, Banking, Insolvency & Restructuring, Litigation, Dechert LLP, High Court of Justice (England & Wales)