Alerts

Lehman Brothers Debtors Seek to Establish Procedures for Assuming and Assigning Pre-Petition Derivatives Contracts and Settling Termination Payments

November 14, 2008

Lehman Brothers Holdings Inc. and its affiliated debtors (collectively, the “Debtors”) filed a motion in the bankruptcy court on Nov. 13, 2008, asking the court to approve procedures for (i) assuming (affirming) and assigning derivative contracts entered into before the Debtors commenced their bankruptcy cases, including resolving cure amounts; and (ii) entering into settlement agreements that may establish termination payments and the return of collateral under terminated derivative contracts.