“A challenge to the legality of a technique used by the issuers of corporate bonds which had acquired the label ‘exit consent’ succeeded on the ground that it was not lawful for the majority bondholders to lend its aid to the coercion of a minority by voting for a resolution which expropriated the minority’s rights under their bonds for a nominal consideration.”
WLR Daily, 27th July 2012
Source: www.iclr.co.uk
