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The High Court has granted two creditors of liquidated transport leasing companies permission to trade in the companies' loan notes, subject to strict compliance with an information control protocol. This decision comes after the companies' assets were frozen due to international sanctions, leading to a cessation of note trading and the companies defaulting on payments. The court's approval aims to prevent conflicts of interest and ensure that the creditors' trading activities do not breach their duties as committee members in the liquidation process or market abuse regulations. The original High Court decision to liquidate the companies was upheld, with the current judgment focusing on the creditors' application to trade in the notes while serving on the committee of inspection.
- Liquidation - International sanctions - Trading in loan notes - Committee of inspection - Information control protocol - Market abuse regulations (MAR) - Fiduciary duties - Companies Act 2014 - Ethical wall - Inside information - Cleansing statement - High Court of Ireland - US Bankruptcy Court (comparative reference) - Chapter 11 bankruptcy (comparative reference)
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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