Court Voids Yes Bank AT1 Bond Write-Off
India's Supreme Court set aside Yes Bank's write-off of AT-1 bonds. The ruling upholds a previous court decision and deals a blow to lenders and regulators.
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India's Supreme Court voided YES BANK LTD's $883.70M AT-1 bond write-off, setting aside a 2020 restructuring move. The ruling dismisses appeals from the lender, regulators, and the federal government after lower courts invalidated the wipeout. The decision restores high-risk debt instruments for retail investors, creating fresh financial pressures for the institution.
