The ability of bondholders to sue bond issuers to enforce their rights without going through the cumbersome process of instructing a bond trustee has long been in question.
However, an important ruling in New York court, obtained by Kobre & Kim on behalf of a group of international bondholders, took the first step in establishing standing.
With New York law governing a vast amount of emerging market company debt, this could allow global bondholders to dramatically speed up creditor response times.
