New York Court of Appeals Finds an Indenture’s No-Action Clause Does Not Preclude Enforcement of All Common Law and Statutory Claims
June 18, 2014
On June 10, 2014, the New York Court of Appeals answered two questions certified to it by the Delaware Supreme Court, clarifying the language necessary for a trust indenture’s no-action clause to preclude enforcement of contractual, common law and statutory claims directly or derivatively by security holders.
