South Square ranked in The Lawyer's Top 20 Cases of 2015

Date: 19/01/2015

South Square is pleased to feature in The Lawyer's Top 20 Cases of 2015, published online today.

Chambers provides 12 barristers in Re Lehman Brothers International (Europe): "Waterfall II", filling all of the counsel spots in The Lawyer's top-ranked case.

The case merited inclusion due to the substantial sums at stake – a £7bn surplus – and complex legal issues involved.

Scheduled to be heard in three stages from February-October 2015, the LBIE application raises 39 novel points of law and construction, including how statutory interest is to be calculated, how creditors  with foreign currency debts should be compensated for exchange rate fluctuations, and the correct interpretation of the "cost of funding" provisions of the ISDA Master Agreement.

The following members of South Square are instructed in the case.

For the joint administrators, PricewaterhouseCoopers – William Trower QC, Daniel Bayfield, Stephen Robins, Alexander Riddiford

For the senior creditor group – Robin Dicker QC, Richard Fisher, Henry Phillips

For Wentworth Sons Sub-Debt Sarl – Antony Zacaroli QCDavid Allison QC, Adam Al-Attar

For York Global Finance – Tom Smith QC, Robert Amey

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