Investment Banking

Canary Wharf bond investors win payout for early redemption

UK judge backs noteholders including Aviva and L&G in battle for compensation after early redemption

Canary Wharf bond investors win payout for early redemption
Photo: iStockPhoto

A UK judge has ruled in favour of investors who argued Canary Wharf Group should give them £169 million compensation after the property firm redeemed some of its debt early.

In a judgment delivered on January 28, Justice Stephen Phillips found "clear and unambiguous language" supporting the investors, which include subsidiaries of UK insurance giants Aviva and Legal & General.

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