Resolving debt capital markets disputes—key cases

The following Banking & Finance practice note provides comprehensive and up to date legal information covering:

  • Resolving debt capital markets disputes—key cases
  • Bonds as negotiable instruments
  • Majority bondholders binding minority holders
  • Actions against and rights of trustees
  • Interpretation of trust deed clauses
  • Interpretation of clauses apart from those found in the trust deed
  • Insolvency and restructuring
  • Governing law
  • No action clauses
  • Misrepresentation
  • More...

Resolving debt capital markets disputes—key cases

This Practice Note sets out certain key cases and associated analysis relevant to debt capital markets practitioners. The cases are divided by topic area and include:

  1. Bonds as negotiable instruments

  2. Majority bondholders binding minority holders

  3. Actions against and rights of trustees

  4. Interpretation of trust deed clauses

  5. Interpretation of trust deed clauses

  6. Insolvency and restructuring

  7. Governing law

  8. No action clauses

  9. Misrepresentation

  10. Prospectus issues, and

  11. Rating

Bonds as negotiable instruments

Names of partiesJudgment dateCase summaryAnalysis
Edelstein v Schuler & Co [1902] 2 KB 144 9 May 1902Certain debenture bonds, some issued by an English company in England and others by foreign companies abroad, and expressed to be payable to bearer, and not being promissory notes, were stolen from the plaintiff by his clerk. For the purpose of selling the bonds, the clerk employed a broker at Bradford, who instructed the defendants, brokers on the London Stock Exchange. The defendants, acting in good faith, entered into contracts, for the sale of the bonds to jobbers. The bonds were then sent by the broker to the defendants, who handed them to the jobbers and remitted the price received to the broker.
It was held that the bonds were negotiable instruments, and that when the defendants received the bonds they became holders for value. It

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