Money & Corp · Appellate Division of the Supreme Court of the State of New York
1d
AI illustrationA fund claims it can sue over defaulted bonds, but does it have the right?
Your callCan the fund sue for breach of contract over bonds it owns?
TL;DR
- 1A fund claims it owns over a quarter of defaulted bonds issued by a Chinese real estate company.
- 2The company argues the fund shouldn't be able to sue because they are not the direct holders of the bonds.
- 3The case hinges on whether the fund's authorization to act comes from their clearinghouse, , or if they're bypassing proper procedures.
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