U.S. Court Rules On CDO Indenture Wrinkle

A U.S. court has ruled that senior noteholders in a collateralized debt obligation which suffered an event of default are entitled to be paid both principal and interest before any junior investors are entitled to the interest they are owed.

  • 10 Feb 2010

--Katy Burne

A U.S. court has ruled that senior noteholders in a collateralized debt obligation which suffered an event of default are entitled to be paid both principal and interest before any junior investors are entitled to the interest they are owed.

A set of conflicting waterfall procedures outlined in ...

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