Hints and tips:
...indenture or the debt securities of the series for the purpose of: - adding to Mexico’s covenants for the benefit of the holders; - amending the debt securities of that series or the indenture in any...
...The right of bondholders to bring lawsuits directly must be restored; bondholders should not be limited to proceeding through an indenture trustee....
...An indenture trustee, which acts for bondholders, subsequently filed another suit over MyTheresa in New York last summer. That case has been postponed by the pandemic, Marble Ridge said....
...The argument put forth is that, because in 2016 President Maduro failed to submit the proposed indenture for consideration by the opposition-controlled legislature (the National Assembly), the indenture...
...The company’s bondholders, through a trustee, argued that Cash America owed not just par, but the make-whole premium as well. The court ruled in their favour....
...indentures and the trustee or holders of at least 25% of any series of notes may deliver a notice of default....
...The declaration would establish the status of the funds held by the trustee as a matter of English law....
...That’s what’s required to waive this article in the indenture: Section 5.8. Persons Eligible for Appointment as Trustee....
...Update – NML’s response is ferocious (and also apparently not run through spell-check): …Argentina has deposited a payment of $539 million with Bank of New York Mellon (“BNYM”), which is the indenture trustee...
...It’s also worth having the trust indenture for the restructured debt to one hand....
...That’s not the indenture trustee business model – it’s designed to be arm’s-length – says BNY, and that’s why they think they deserve a ticket out of here....
...“In addition, BNY Mellon alone has authority over any trustee paying agent as defined in the Indenture,” it added....
...The bank has so far been sending non-party legal briefs asking the court to provide guidance that would ensure BNY Mellon is not held in violation of the judge’s order or its trustee indenture....
...BNYM, which is the agent of the bondholders and their trustee, Argentina argued, agreed wholeheartedly with this point in its own brief....
...Led by Gramercy, a fund, the exchange bondholders have been accepted by the appeals court as interested parties and the Bank of New York Mellon, their indenture trustee and the first step in the bondholders...
...Even on a quick skim you can get a sense of the importance – and careful wording – of the trust indenture which sets up Bank of New York as trustee for bondholders....
...“Be clear that this injunction does not bind us, or our trustee… the trustee is essentially us.”...
...“At the heart of the instant appeal is the issue of how to interpret under New York contract law a pari passu clause in an unsecured debt instrument – in this case, an international bond indenture issued...
...This is a significant move given the role of BNY enabling payments to restructured holders as their trustee....
...But Barclays noted: We cannot exclude the possibility that Argentina may try to transfer the money directly to the registered owners, rather than the trustee (Bank of New York)....
...If the interest payment remains unpaid for 30 days thereafter, upon the expiry of the 30-day period the relevant indenture trustee, or holders of 25% or more in aggregate principal amount of the relevant...
...Bank of New York Mellon has an additional $17bn in exposure to both subordinated and junior subordinated debt, again as an indenture trustee....
...FTI, Houlihan Lokey and Milbank Tweed Hadley McCloy are advising the unsecured creditor committee, made up of Wilmington Trust Co (indenture trustee), Bank of New York Mellon, Shinsei Bank, Mizuho Corp Bank...
...One indenture trustee suit: The Company has been named as a defendant in a case filed in the Delaware Court of Chancery by the Bank of New York Mellon in its capacity as indenture trustee with respect to...
...“There’s an enormous amount of cash that gets generated by these businesses or has to be held as part of the indenture agreement.”...
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