Michael Schlitt discusses the latest court decisions on convertible bonds in German publication, Börsenzeitung.
In a December 5, 2007 Börsezeitung article, "Convertible Bonds Keep the Courts Busy," Frankfurt partner Michael Schlitt discusses the latest high court decision regarding convertible bond issues that deal with the permissibility of excluding the statutory pre-emptive rights of shareholders. Schlitt explains that some open issues remain, in particular the recent decisions of lower courts on how detailed the pricing mechanism must be described in the shareholders’ authorization of a convertible bond issue.