Loan Sales: High Court personal insolvency decision differentiates between types of secured creditor

08-11-2017

Following a High Court decision of 1 November 2017 , it seems that the High Court will assess an objection by a secured creditor to a personal insolvency arrangement (PIA) differently depending on whether the creditor is a bank (or other originating lender) or a loan purchaser that is not a bank.

In the former case, the High Court will look at the future capital costs to the creditor resulting from a proposed PIA.  In the latter case, the High Court will view the creditor’s position as more akin to that of an investor in a bond. Read the full briefing here …