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The Supreme Court rules on "pay as you go" distribution for SIV creditors
Practical Law UK Legal Update 0-500-5988 (Approx. 5 pages)
The Supreme Court rules on "pay as you go" distribution for SIV creditors
by PLC Finance
An update on the Supreme Court decision in In the matter of Sigma Finance Corporation (in administrative receivership) [2009] UKSC 2, in which the Supreme Court considered whether the terms of a security trust deed displaced the pari passu basis of asset distribution amongst the secured creditors of a structured investment vehicle (SIV).
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Resource ID 0-500-5988© 2024 Thomson Reuters. All rights reserved.
Law stated as at 04-Nov-2009
Resource Type Legal update: archive
Jurisdictions
Related Content- England
- Wales