Legal News

Early redemption of convertible securities

Published on: 13 January 2016
Published by: LexisPSL
  • Early redemption of convertible securities
  • Original news
  • Briefly, what was the background to the appeal?
  • What were the legal issues that the judge had to decide in this appeal?
  • Why did these issues arise?
  • What were the main legal arguments put forward?
  • What did the judge decide, and why?
  • How did the court approach the construction of contractual mistakes?
  • To what extent is the judgment helpful in clarifying the law in this area?
  • What practical lessons can those advising take away from the case?

Article summary

Banking & Finance analysis: How did the court approach the question of whether a capital disqualification event had occurred so as to allow the early redemption of convertible securities? Laura Davis, associate at DAC Beachcroft, says the court’s focus in BNY Mellon v LBG Capital was on bringing commercial sense to the contract. or take a trial to read the full analysis.

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