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Clifford Chance

Clifford Chance


France: Recognition of Trusts and Parallel Debt structures

27 September 2011

In a landmark decision dated 13 September 2011, the French Supreme Court recognises trusts and parallel debt structures in International Financings.

In the famous Belvedere restructuring, the French Supreme Court has recognised trust and parallel debt structures governed by New York law in the context of filing of proof of claims within French safeguard proceedings.

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