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Results: 1-10 of 32

Detroit bankruptcy court refuses stay of Chapter 9 eligibility hearing under Stern v. Marshall
  • Cadwalader Wickersham & Taft LLP
  • USA
  • September 30 2013

On September 26, 2013, Judge Steven W. Rhodes of the U.S. Bankruptcy Court for the Eastern District of Michigan denied the Official Committee of


Lyondell Bankruptcy Court holds that safe harbors do not prohibit creditors from asserting state law constructive fraudulent transfer claims
  • Cadwalader Wickersham & Taft LLP
  • USA
  • January 29 2014

On January 14, 2014, Judge Robert E. Gerber of the United States Bankruptcy Court for the Southern District of New York in Weisfelner v. Fund 1. (In


Delaware Bankruptcy Court decision in SemCrude prohibits triangular setoff in absence of safe harbor
  • Cadwalader Wickersham & Taft LLP
  • USA
  • March 31 2009

Earlier this year, the United States Bankruptcy Court for the District of Delaware ruled that a nondebtor cannot effect a "triangular" setoff of the amounts owed between it and three affiliated debtors, even if the parties had entered into pre-petition contracts that expressly contemplated multiparty setoff


District court grants bny leave to appeal bankruptcy court’s interlocutory order in Lehman, prohibiting enforcement of ipso facto clause in swap
  • Cadwalader Wickersham & Taft LLP
  • USA
  • October 13 2010

On September 21, 2010, the United States District Court for the Southern District of New York granted BNY Corporate Trustee Services Limited leave to appeal a decision of the Bankruptcy Court in the Lehman Brothers bankruptcy case


Court approves extension of the automatic stay in Detroit’s chapter 9
  • Cadwalader Wickersham & Taft LLP
  • USA
  • July 26 2013

On July 24, 2013, Judge Steven W. Rhodes of the Bankruptcy Court for the Eastern District of Michigan approved the City of Detroit's motion to extend


S.D.N.Y. Bankruptcy Court continues to construe Bankruptcy Code’s safe harbor provisions narrowly
  • Cadwalader Wickersham & Taft LLP
  • USA
  • June 7 2011

In two recent decisions, the United States Bankruptcy Court for the Southern District of New York has interpreted narrowly certain of the Bankruptcy Code’s safe harbor provisions


Stern v. Marshall: how big is it?
  • Cadwalader Wickersham & Taft LLP
  • USA
  • July 14 2011

On June 23, 2011, the Supreme Court ruled 5-4, in an opinion by Chief Justice Roberts, that a Bankruptcy Judge lacked constitutional authority to issue a final ruling on state law counterclaims by a debtor against a claimant


Delaware’s not so safe harbors: Third Circuit Bankruptcy Court declines to rule that a payment on a letter of credit is an avoidance-proof “settlement payment”
  • Cadwalader Wickersham & Taft LLP
  • USA
  • April 17 2012

On March 26, 2012, Judge Mary F. Walrath of the United States Bankruptcy Court for the District of Delaware refused to rule that, as a matter of law, payments made to satisfy a debtor’s obligations under a letter of credit constitute “settlement payments” protected from avoidance under section 546(e) of the Bankruptcy Code


SDNY Bankruptcy Court interprets section 546(e)’s safe harbors in Lehman-JPMorgan dispute
  • Cadwalader Wickersham & Taft LLP
  • USA
  • May 3 2012

On April 19, 2012, the U.S. Bankruptcy Court for the Southern District of New York granted in part and denied in part JPMorgan Chase, N.A.’s motion to dismiss an adversary complaint filed by Lehman Brothers Holdings Inc. (“LBHI”) and its Official Committee of Unsecured Creditors


Lehman bankruptcy court holds ISDA swap counterparty in violation of automatic staycounterparty seeks modification
  • Cadwalader Wickersham & Taft LLP
  • USA
  • September 29 2009

In a recent ruling from the bench, Judge James M. Peck of the United States Bankruptcy Court for the Southern District of New York held that Metavante Corporation’s suspension of payments under an outstanding swap agreement with Lehman Brothers Special Financing Inc. (“LBSF”) was not safe harbored, and instead violated the automatic stay of section 362(a) of the Bankruptcy Code