Whistlejacket Siv sets priority precedent

Author: | Published: 28 May 2008

Receivers have welcomed greater clarity about repayment priorities in Siv insolvencies, following a ruling by the UK Court of Appeal.

Last week, a judge ruled that the receiver of Whistlejacket – a $7 billion structured investment vehicle formerly sponsored by Standard Chartered – can use its discretion to make debt repayments to creditors.

The Whistlejacket case hung on the...