Alex Burton

Latest Articles

The effectiveness of the restructuring technique known as “exit consent” has been cast into doubt by the English High Court.  During a recent consent solicitation, Assenagon Asset Management SA, a noteholder with a €17m holding in Anglo-Irish Bank (now IBRC) refused to vote in favour of an exchange offer that would have emanated in their holding being replaced with paper that was an eye watering 20% discount of their bonds face value. Assenagon’s reward for protecting their…