Bingham Team Secures Victory for Elektrim
The Lawyer, Oct. 22, 2010 — A Bingham team that included associate Dan Cohen recently secured a major appellate victory for Elektrim bondholders. The English Court of Appeal rejected Elektrim’s appeal against €185 million in damages and interest awarded to the bondholders of Elektrim S.A. by the English High Court in July 2009. The award compensates bondholders for Elektrim’s failure to pay a “Contingent Payment” negotiated as part of Elektrim’s financial restructuring in 2002. Elektrim unsuccessfully challenged the validity of the Contingent Payment as well as the amount. Bingham represented the ad hoc committee of bondholders of Elektrim S.A. and appeared for the representative bondholder in the litigation. News of this victory was also reported by the AmLaw Litigation Daily.
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