Administrators will note with concern the decision of the East London Employment Tribunal in Spencer v Lehman Brothers (in administration) and Others, which suggests that administrators can be held to be personally liable for the discrimination of employees of the business in administration.
United Kingdom, Employment & Labor, Insolvency & Restructuring, Litigation, Shepherd and Wedderburn LLP, Discrimination, Employment tribunal, Parental leave, Annual leave, Lehman Brothers, Insolvency Act 1986 (UK), Sex Discrimination Act 1975 (UK)
Published in The Deal, January 5, 2011
The recent decision in Bank of America, NA v. Lehman Brothers Holdings, Inc. (In re Lehman Brothers Holdings Inc., et. al.), No. 08-13555, Adv. Pro. No. 08-01753, 2010 Bankr. LEXIS 3867 (Bankr. S.D.N.Y. Nov. 16, 2010) has shone a 10,000-watt spotlight onto the scope of common law set-off in New York.
USA, New York, Banking, Insolvency & Restructuring, Litigation, Proskauer Rose LLP, Debtor, Collateral (finance), Waiver, Beneficiary, Debt, Common law, Bank of America, Lehman Brothers