Set-off of secured debts: relevance of the Lehman Waterfall Case

In the April edition of the Butterworths Journal of International Banking and Financial Law, Benedict James and Elli Karaindrou of Linklaters provide an overview of the law relating to set-off of secured debts and argue that the Lehman Waterfall Case has not affected the legal position that the mandatory nature of insolvency set-off does not operate to deprive a secured creditor of its ability to rely on its security.

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