Bankruptcy
Case Summaries
In
re: Lehman Brothers, Inc.
December 14, 2015
Bankruptcy Law, Securities Law
(United
States Second Circuit) - In an action arising out of the Lehman
Brothers bankruptcies brought by underwriters seeking contribution and
reimbursement from debtor, the district court's order is affirmed where
section 510(b) of the Bankruptcy Code, 11 U.S.C. section 510(b),
subordinates claims or interests represented by an affiliate's
securities to all claims or interests senior or equal to claims in the
bankruptcy proceedings that are of the same type as the underlying
securities.
|
|
|