Howard S. Beltzer

Lehman Bankruptcy Court Holds That Pre-Petition Collateral Transfers and Guaranties to Clearing Bank Are Safe Harbored
Howard S. Beltzer,Joshua Cohn,Mark G. Hanchet,Christopher J. Houpt, April 27, 2012
On April 19, 2012, the Lehman bankruptcy court handed down its decision on the long-pending motion to dismiss filed by JPMorgan Chase Bank, N.A., in response to Lehman Brothers Holdings Inc.’s $8.6 billion avoidance action against it. The action sought to recover the value of collateral taken...

Lehman Bankruptcy Court Denies Contractual Right to Three-Party Setoff in Bankruptcy
Howard S. Beltzer,Brian Trust, October 6, 2011
The Bankruptcy Court for the Southern District of New York has held that a cross-affiliate netting provision in an ISDA swap agreement is unenforceable in bankruptcy. In the SIPA proceedings of Lehman Brothers Inc. (LBI), UBS AG (UBS) sought to offset UBS’s obligation to return excess...