Hunkemöller
A non-pro rata uptier elevated notes held by the majority, which then directed a distressed disposal under the intercreditor agreement. Minority holders challenge it in New York, England and the Netherlands.
Discussed in Liability Management Exercises: Law and Practice at ¶¶ 2.55, 2.91, 10.66, 14.23, 21.21, 21.43, 21.57.