Marriott Harrison reflects on the replacement of a trustee...
Marriott Harrison reflects on the replacement of a trustee in an investment bond scenario
Thursday 23rd January, 2020
Restructuring partner Brett Israel has recently analysed a case heard following the collapse of London Capital & Finance.
In the analysis (as published on the Lexis Nexis platform this month), Brett reviewed whether and, if so, when it might be appropriate for a trustee to be removed by an order of the court. In the case (which emerged from the controversial collapse of London Capital & Finance, a seller of so called “mini bonds” to private investors), the court determined that the trustee should be removed where bondholders had lost confidence in the trustee’s ability (or its willingness) to protect their interests.
The case analysis was first published by Lexis PSL on 15 January 2020.