Banking

19 June 2015

Issue: 7657 / Categories: Case law , Law digest , In Court

BNY Mellon Corporate Trustee Services Ltd v LBG Capital No. 1 plc and another company [2015] EWHC 1560 (Ch), [2015] All ER (D) 44 (Jun)

The Chancery Division considered whether the defendant issuers, wholly-owned subsidiaries of Lloyds Banking Group plc, were entitled to redeem certain enhanced capital note in advance of their respective maturity dates. That turned on whether a capital disqualification event (CDE) had occurred. The court considered the terms of relevant trust deed and made a declaration that a CDE had not occurred.

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MOVERS & SHAKERS

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Lord Sales has been appointed to become the Deputy President of the Supreme Court after Lord Hodge retires at the end of the year

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Banking

MOVERS & SHAKERS

Weightmans—Emma Eccles & Mark Woodall

Gilson Gray—Linda Pope

Jackson Lees Group—five promotions