News From Law.com

A hedge fund operating as the beneficial owner of unpaid bond debt has standing to sue issuers if given the greenlight by the custodian, a New York judge has ruled. The July 31 decision from Manhattan Acting Supreme Court Justice Joel Cohen helps further clarify which bondholders are able to pursue legal claims. Cohen, of the Commercial Division, found that plaintiff BFAM Asian Opportunities Master Fund had evidenced its beneficial ownership, through business records, of the bonds at issue and therefore could sue.

New York

August 05, 2024, 5:21 PM