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Repayment in full—ranking debt after Lehmans

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Published on: 26 May 2015

Published by a LexisNexis Restructuring & Insolvency expert

Table of contents

Original news
What was the background to the appeal?
What were the legal issues that the Court of Appeal had to decide?
Why did these issues arise?
What were the main legal arguments put forward?
Subordinated debt
Currency conversion claims
Post-administration interest
Liability under IA 1986, s 74
What did the Court of Appeal decide, and why?

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Article summary

Restructuring & Insolvency analysis: Following the collapse of Lehman Brothers in 2008, what happens when it turns out that their main trading company in Europe is able to repay its external creditors in full? Barry Isaacs QC at South Square Chambers explains the key legal issues and arguments before the Court of Appeal.

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