Clifford Chance

Eurosail Appeal - more navigating troubled financial waters

11 March 2011

Following our client briefing of earlier this week on the Eurosail appeal case we now attach a further article which explores in more detail the reasoning behind the Court of Appeal decision and its implications for the asset-backed market and a wider range of financial transactions. Although the court has made the test for balance sheet insolvency more complex and more subjective the decision should bring greater stability to financial transactions in the future.

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