Yes Bank Seeks Supreme Court AT-1 Review
Yes Bank has filed a Supreme Court petition seeking a review of the recent judgment that set aside the write-off of billions of rupees in AT-1 bonds. The move follows a contempt petition from bondholders and challenges the court ruling that found the write-off impermissible.
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YES BANK LTD has filed a Supreme Court petition seeking a review of a judgment that set aside the write-off of 84.15 billion rupees ($893.81M) in AT-1 bonds. The filing follows a contempt petition from bondholder trustees alleging a failure to implement the court's earlier order. The outcome threatens to alter the capital structure of lenders recovering from insolvencies.
