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Contractual rights vanish again in the "Bermuda" of triangular setoff

The enforcement of triangular setoffs in bankruptcy, where affiliates set off their claims against the debtor, received another setback in a recent decision in the Lehman bankruptcy cases. See In re Lehman Brothers Inc., No. 08-01420 (JMP) (SIPA), 2011 WL 4553015 (Bankr. S.D.N.Y. Oct.

USA, Insolvency & Restructuring, Litigation, Bracewell LLP, Bankruptcy, Debtor, Collateral (finance), Division of property, Swap (finance), Debt, Concession (contract), Standing (law), Liquidation, Common law, US Congress, UBS, Lehman Brothers, US District Court for the Southern District of New York
Will Dodd-Frank amount to a hill of beans after the midterms?

Most polls, political pundits, and crystal balls are predicting a larger crowd on the Republican side of the aisle after the midterm elections, potentially giving them a majority in the House and tightening the margin in the Senate. The natural question that follows is what will happen to Dodd-Frank if the composition of Congress changes significantly? Is it possible that with a Republican majority the House may seek to repeal one of the most controversial pieces of legislation enacted by the Obama administration?

USA, Insolvency & Restructuring, Bracewell LLP, Unsecured debt, Liquidation, Default (finance), US Securities and Exchange Commission, Federal Deposit Insurance Corporation (USA), US Congress, HM Treasury (UK), US House of Representatives, Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 (USA), Appropriations bill (USA), US Secretary of the Treasury