Highland Capital v. Schneider: Second Circuit Finds Broker Lacked Authority to Sell Notes on Behalf of Client | Practical Law

Highland Capital v. Schneider: Second Circuit Finds Broker Lacked Authority to Sell Notes on Behalf of Client | Practical Law

An update on the Second Circuit Court of Appeals decision in Highland Capital Management LP v. Schneider, holding that a broker lacked both apparent and actual authority to contract to sell certain promissory notes on behalf of its client.

Highland Capital v. Schneider: Second Circuit Finds Broker Lacked Authority to Sell Notes on Behalf of Client

by PLC Corporate & Securities and PLC Finance
Published on 16 Jun 2010 • New York
An update on the Second Circuit Court of Appeals decision in Highland Capital Management LP v. Schneider, holding that a broker lacked both apparent and actual authority to contract to sell certain promissory notes on behalf of its client.