Lehman court finds payment priority provision is unenforceable ipso facto clause, and must be part of swap for safe harbor protection

Date

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Location
USA
Authors
Mark C. Ellenberg
Leslie W. Chervokas
Firm
Cadwalader Wickersham & Taft LLP
Tags
USA
New York
Insolvency & Restructuring
Litigation
Securitization & Structured Finance
Cadwalader Wickersham & Taft LLP
Bankruptcy
Debtor
Collateral (finance)
Safe harbor (law)
Swap (finance)
Deed
Default (finance)
Collateralized debt obligation
Title 11 of the US Code
Constitution
Lehman Brothers
United States bankruptcy court
US District Court for SDNY