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Client Alert June 6, 2024

New York Glory Health Decision Makes Enforcement of Bonds Issued by Cayman and BVI Companies Much Easier

  • The ability of bondholders to sue bond issuers to enforce their rights without going through the cumbersome process of instructing a bond trustee has long been in question.
  • However, an important ruling in New York court, obtained by Kobre & Kim on behalf of a group of international bondholders, took the first step in establishing standing.
  • This decision potentially removes key barriers to enforcement in key offshore jurisdictions such as Cayman and the British Virgin Islands (BVI), as well as Hong Kong.

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Client Alert May 23, 2024

US Dollar Noteholders Can Fast-Track a Favorable Recovery Against Brazilian and Latin American Note Issuers

  • Many Brazilian and Latin American companies that borrow in US dollars are facing a growing mountain of debt.
  • As international creditors eye a shrinking pool of capital available for repayment, US dollar noteholders may be left at the back of the line relative to onshore creditors.
  • However, there are a number of options at USD noteholders' disposal that could improve their position and increases their chances of recovery.

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Client Alert April 4, 2024

New York Court Opens Path for Global Bondholders to Bring Unilateral Claims Against Recalcitrant Bond Issuers

  • The ability of bondholders to sue bond issuers to enforce their rights without going through the cumbersome process of instructing a bond trustee has long been in question.
  • However, an important ruling in New York court, obtained by Kobre & Kim on behalf of a group of international bondholders, took the first step in establishing standing.
  • With New York law governing a vast amount of emerging market company debt, this could allow global bondholders to dramatically speed up creditor response times.

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