by Paul Turner and Mark
A recent opinion by the U.S. District Court for the
Southern District of New York affirms a 2010 ruling by the Lehman Brothers
bankruptcy court, which rendered certain netting and setoff provisions
unenforceable in bankruptcy. The core holding - that a counterparty...
According to the FDIC, general unsecured creditors could
have recovered 97 cents on every $1 of claims, if regulators had quickly
carried out a structured sale of Lehman's assets. Instead, general unsecured
creditors will likely receive around 21 cents on every dollar of claims.
The FDIC also...
NEW YORK - (Mealey's) JPMorgan Chase Bank NA on Feb. 1
agreed to pay nearly $700 million to bankrupt Lehman Brothers Holdings Inc.
(LBHI) that JPMorgan had been previously paid for "purportedly secured claims
against LBHI on the basis that, as 'affiliates' of JPMorgan Chase Bank,...
NEW YORK - (Mealey's) Lehman Brothers Holding Co. Inc. on
Feb. 28 agreed to a $1 billion settlement that resolves $2.3 billion in claims
brought by the closed bank's affiliates based in Bermuda, according to a brief
the bank filed in a New York bankruptcy court ( In re: Lehman Brothers