Braganza doesn't bite: High Court strikes out challenge to validity of appointment of administrators where enforcement was for the purpose of an attempted takeover

Devi Shah and Nicola Hughes of Mayer Brown report that the High Court recently struck out a challenge to administrators appointed after a debt purchase and enforcement linked to a takeover attempt, confirming that properly exercised security rights will not be undermined by alleged improper purpose or implied Braganza duties, and that estoppel may bar a company from disputing an appointment it has previously acknowledged.

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