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Results: 1-10 of 93

Lehman Brothers Holdings Inc. bankruptcy filing: issues to consider

  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • -
  • USA
  • -
  • September 17 2008

On September 15, 2008, Lehman Brothers Holdings Inc. (“LBHI”) filed for protection under chapter 11 of the United States Bankruptcy Code in New York

Credit default swaps and the bankrupt counterparty entering the undiscovered country

  • Caplin & Drysdale
  • -
  • USA
  • -
  • September 19 2008

The credit default swap (“CDS”) has never been tested in bankruptcy proceedings on any significant scale, particularly under recent amendments to the Bankruptcy Code

Is triangular set-off enforceable under US laws?

  • Reed Smith LLP
  • -
  • USA
  • -
  • January 29 2009

It is not uncommon to find in trading agreements triangular set-off provisions, also commonly referred to as “cross-affiliates” set-off clauses

Trading swap termination claims

  • Richards Kibbe & Orbe LLP
  • -
  • USA
  • -
  • October 6 2008

Nothing is certain in today's financial crisis - except that the legal system will be sorting out the rights and obligations of financial market participants for years to come

CFTC issues statement regarding bankruptcy treatment of cleared-only contracts

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • October 3 2008

In an interpretive statement, the Commodity Futures Trading Commission has taken the position that “cleared-only contracts,” over-the-counter contracts submitted for clearing through a futures commission merchant to a derivatives clearing organization, should be included within the definition of “net equity” for purposes of U.S. Bankruptcy Code provisions applicable to commodity brokers

Lehman requests bar date for creditor claims

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • June 5 2009

On May 26, Lehman Brothers Holdings Inc. (LBHI) filed a motion requesting the U.S. Bankruptcy Court for the Southern District of New York to establish August 24 as the deadline for filing proofs of claim against LBHI and its affiliates, and to establish a procedure for such filing, including a required form to be completed online relating to derivatives claims, and a new proof of claim form specific to this case

Fourth Circuit reverses bankruptcy court's narrow reading of "swap agreements"

  • McDermott Will & Emery
  • -
  • USA
  • -
  • February 18 2009

The Fourth Circuit's reversal of the bankruptcy court's narrow reading of "swap agreement" clarifies the nature of agreements entitled to broad protections under the Bankruptcy Code, but until the decision is fully implemented on remand, swap participants will bear increased risk in hedging transactions

Derivative exposure and counterparty insolvency: lessons learned in the current market

  • Haynes and Boone LLP
  • -
  • USA
  • -
  • September 11 2009

Almost all large (and many small) companies in today’s economy use derivatives in one way or another to hedge against future risk

Recent bankruptcy court decisions affecting counterparties to open or terminated derivative contracts with Lehman Brothers entities

  • Squire Sanders
  • -
  • USA
  • -
  • September 23 2009

On September 17, 2009 Judge Peck of the United States Bankruptcy Court for the Southern District of New York issued two orders that may significantly impact parties who held, or still currently hold, derivative contracts with Lehman Brothers Special Financing Inc

Bankruptcy of a dealer an overview of derivatives issues

  • Kramer Levin Naftalis & Frankel LLP
  • -
  • USA
  • -
  • October 21 2008

This alert describes issues to consider when a derivatives dealer counterparty becomes insolvent

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