Sovereign Debt Restructuring. Stay of Proceedings. District court grants stay of proceedings for breach of contract claim against Sri Lanka pending restructuring negotiations with bilateral and private commercial creditors.

Hamilton Reserve Bank Ltd. v. Sri Lanka, No. 22-cv-5199 (S.D.N.Y. Nov. 1, 2023) [click for opinion]

Filed under:
USA, Insolvency & Restructuring, Litigation, Baker McKenzie
Authors:
David Zaslowsky , Jacob M. Kaplan
Location:
USA
Firm:
Baker McKenzie
Interest Rates. Currency of Judgment. New York state court holds that interest rate set in bankruptcy proceeding controls over contractual interest rate and that New York law requires a New York judgment be rendered in U.S. dollars.

Lehman Bros. Int'l (Europe) (In Admin.) v. AG Fin. Prod., Inc., No. 653284/2011 (Sup. Ct. N.Y. County May 17, 2023) [click for opinion]

Filed under:
USA, Derivatives, Insolvency & Restructuring, Litigation, Baker McKenzie, International Swaps and Derivatives Association
Authors:
Jacob M. Kaplan , David Zaslowsky
Location:
USA
Firm:
Baker McKenzie
Sovereign Debt Restructuring. Stay of Proceedings. District court grants stay of proceedings for breach of contract claim against Sri Lanka pending restructuring negotiations with bilateral and private commercial creditors.

Hamilton Reserve Bank Ltd. v. Sri Lanka, No. 22-cv-5199 (S.D.N.Y. Nov. 1, 2023) [click for opinion]

Filed under:
USA, Insolvency & Restructuring, Litigation, Baker McKenzie
Authors:
David Zaslowsky , Jacob M. Kaplan
Location:
USA
Firm:
Baker McKenzie