BSEC wins stay as Appellate Court clears path for Mutual Fund conversion, liquidation

On 9 June, BSEC issued a fresh directive instructing trustees to move forward with the conversion or liquidation process.

The Appellate Division’s Chamber Court has stayed a High Court order that had blocked the conversion or liquidation of closed-end mutual funds, effectively clearing the legal path for the process to move forward.

With the stay now in place, trustees of the affected funds may proceed with conversion or liquidation activities, according to lawyers involved in…