Invalidity of a Bond Condition with Unrestricted Permission for Creditors to Pass Resolutions on the Rights and Obligations of Investors - McDermott Will & Emery

Invalidity of a Bond Condition with Unrestricted Permission for Creditors to Pass Resolutions on the Rights and Obligations of Investors

Overview


The requirement of transparency is not satisfied if, when a registered bond is issued, a clause allows creditors to pass resolutions on the rights and obligations of investors without any restrictions.