When is an event of default continuing? (Grant and others v FR Acquisitions Corporation (Europe) Ltd and another (Re Lehman Brothers International (Europe))

Table of contents

• What are the practical implications of this case?
• What was the background?
• What did the court decide?
• Further information
• Case details

Article summary

Banking & Finance analysis: This News Analysis discusses the case of Grant and others v FR Acquisitions Corporation (Europe) Ltd and another (Re Lehman Brothers International (Europe)), in which the High Court considered the meaning of ‘continuing’ in the context of events of default in an ISDA Master Agreement. The High Court also considered whether certain insolvency events of default were capable of being ‘cured’.