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Lehman Brothers ruling calls into question enforceability of cross-affiliate netting in bankruptcy

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • May 18 2010

The U.S. Bankruptcy Court for the Southern District of New York recently issued an opinion in the case of In re Lehman Brothers Holdings Inc. that significantly restricts the scope of setoff rights for energy traders and other participants in derivatives and forward commodity markets