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Goodridge appeal reaffirms accepted practice
The Australian Federal Court in Leveraged Equities Limited v Goodridge has reaffirmed accepted practice regarding novations and assignments in the loan syndication and securitisation markets. This should lay to rest concerns raised in the first instance decision, Goodridge v Macquarie Bank Limited, almost a year ago. But the relief may be temporary as Mr Goodridge has indicated that he will appeal the court’s decision to the Australian High Court.
New Zealand
9 Feb 2011
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