“…g the relevance of the Notes being tradeable, the judge misunderstood and/or misapplied BNY Mellon Corporate Trustee Services Ltd v LBG Capital [2016] UKSC 29; [2016] Bus LR 725. In that case, Lord Neuberger stated at [30] that “very considerable circumspection” was appropriate before taking into account the content of documents other …”
“…to the circumstances in which the initial holder or holders purchased the Notes; see in this context BNY Mellon Corporate Trustee v LBG Capital [2016] UKSC 29; [2016] Bus LR 725, where the Supreme Court was concerned with the proper interpretation of certain “enhanced capital” loan notes issued by Lloyds, which were constituted by a tr…”