No Safe Harbor In A Bankruptcy Storm

Law360, New York (September 29, 2010, 3:29 PM EDT) -- “Safe harbors” in the Bankruptcy Code designed to insulate nondebtor parties to financial contracts from the consequences that normally ensue when a counterparty files for bankruptcy have been the focus of a considerable amount of scrutiny as part of evolving developments in the Great Recession.

One of the most recent developments concerning this issue in the courts was the subject of a ruling handed down by the New York bankruptcy court presiding over the Lehman Brothers Chapter 11 cases.

In In re: Lehman Bros. Holdings, Inc.,...
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