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LMEs under attack: possible challenges and how they might succeed

28 February 2026 / Author(s): William Willson KC , Angus Groom
Issue: March 2026 / Categories: Feature
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With the ever-increasing and more ambitious use of out-of-court liability management exercises mechanisms for debt restructuring, dissenting creditors are having to consider the possible claims that they can bring to challenge an unfair transaction. In this article, we consider the possible claims that might be brought, the consequences of a successful challenge, and the novel issues that the courts will face if and when challenges become more frequent.

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