Court holds that a bankruptcy termination provision that subordinates an in-the-money debtor’s right to a distribution may be an unenforceable ipso facto provision

Date

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Location
USA
Authors
Dennis J. Connolly
David A. Wender
Jason H. Watson
William S. Sugden
John C. Weitnauer (Kit)
Jonathan T. Edwards
Firm
Alston & Bird LLP
Tags
USA
New York
Derivatives
Insolvency & Restructuring
Litigation
Alston & Bird LLP
Bankruptcy
Debtor
Injunction
Statutory interpretation
Safe harbor (law)
Swap (finance)
Liquidation
Default (finance)
Credit default swap
Title 11 of the US Code
Lehman Brothers
United States bankruptcy court
US District Court for SDNY