3/4 South Square the victors in MyTravel case

3-4 South Square has emerged as the one of the winners in today’s crucial court battle between MyTravel and its bondholders.

The decision of UK High Court today means that MyTravel’s restructuring can go ahead in the teeth of opposition from the bondholders, a decision which could significant repercussions for bondholder activism.

However, whichever way the court ruled, 3-4 South Square will be celebrating because the set was instructed both by the company’s lawyers, Slaughter and May, and the bondholders’ lawyers Cadwalader.

Head of chambers Michael Crystal QC, Robin Dicker QC and junior Stephen Atherton represented the bondholders while Richard Sheldon QC, Hilary Stonefrost advised the company.

Crystal has also teamed up with Cadwalader bondholder lawyer Andrew Wilkinson on TXU, Equitable and British Energy whilst Slaughters regularly instructs Sheldon and Stonefrost.