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Turbulence Continues in 'Safe Harbors '
Last month, Part One of this two-part article discussed the prosecution of post-confirmation state law fraudulent transfer claims in the Lyondell case and highlighted conflicting views coming from within the United States Bankruptcy and District Courts for Southern District of New York.
This month, I discuss a recent decision in the Lehman Chapter 11 case, where the bankruptcy court held that the methodology to be used to calculate amounts due in connection with the liquidation of certain swap transactions under Bankruptcy Code section 560 is governed by the contractual terms of the relevant master swap agreement and accompanying schedule and such terms are not invalidated by ipso facto provisions contained in the Bankruptcy Code. See Michigan State Housing Dev. Auth. v. Lehman Bros. Deriv. Prods. Inc. (In re Lehman Bros. Holdings Inc.), No. 08-13555, —B.R. —-, 2013 WL 6671630 (Bankr. S.D.N.Y. Dec. 19, 2013).
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Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.