UK Court voids voluntary arrangement after disqualifying Icelandic bank’s approval
Royal Courts of Justice (Credit: Tony Hisgett on Flickr )
The UK High Court has revoked a restructuring deal struck between a British property tycoon and lenders to whom he owed more than £582 million, finding that former Icelandic bank Kaupthing’s approval of the deal at a creditors’ meeting was inadmissible.
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