A Flip on the Flip Clause: Lehman Court Changes Course on Flip Provisions and Financial Safe Harbors

New York bankruptcy judge dismisses claims to recover approximately $1 billion that had been distributed to noteholders following commencement of the Lehman Brothers chapter 11 proceedings in September 2008.

Filed under:
USA, Derivatives, Insolvency & Restructuring, Litigation, Reed Smith LLP, Bankruptcy, Swap (finance), Collateralized debt obligation, Lehman Brothers, United States bankruptcy court
Authors:
Michael J. Venditto , David M. Schlecker , Sarah K. Kam
Location:
USA
Firm:
Reed Smith LLP