The UK Supreme Court, which is the UK's highest court, has handed down its long-awaited decision in Belmont Park Investments Pty Limited v BNY Corporate Trustee Services Limited and Lehman Brothers Special Financing Inc [2011] UKSC 38, in which the Court considered the validity and enforceability of so-called "flip" clauses under English bankruptcy law.
Filed under:
United Kingdom, Insolvency & Restructuring, Litigation, Securitization & Structured Finance, Clayton Utz, Bankruptcy, Surety, Collateral (finance), Security (finance), Swap (finance), Good faith, Default (finance), Credit default swap, Lehman Brothers, Court of Appeal of England & Wales, High Court of Justice, UK Supreme Court
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