Lehman Brothers Special Financing v. Bank of America NA

Published on:
June 16, 2017

SIFMA has submitted an Amicus “Friend of the Court” Brief.

Court:

U.S. District Court (S.D.N.Y.)

Amicus Issue:

Whether “flip clauses” – which subordinate amounts payable to Lehman (in favor of collateralized debt obligation (CDO) noteholders) on the termination of credit default swaps backing synthetic CDOs – are enforceable, or whether such clauses are barred by the ipso facto doctrine of bankruptcy law.

Counsel of Record:

Orrick, Herrington & Sutcliffe LLP

Thomas C. Mitchell

Shaila R. Diwan

Law Office of Steven J. Fink PLLC

Steven J. Fink

Other Amici:

International Swaps and Derivatives Association

Details

Download

More Content

  • Amicus Briefs
    Oct 05, 2026

    In re The Boeing Company Securities Litigation

  • Letters
    Oct 05, 2026

    Reducing Duplicative Regulation and Expanding Exemptions for Commodity Pool Operators and Commodity Trading Advisors

    SIFMA AMG comments on CFTC proposals to reduce duplicative regulation for certain CPOs and CTAs and account for inflation.
  • Letters
    Sep 30, 2026

    Proposed Rule Change to Amend FINRA Rules 0150, 2165, 4512 and to Adopt FINRA Rule 2166

    SIFMA Comments to SEC in support of the proposed rule changes to improve the utilization of Rules 2165 and 4512, as well as the new Rule 2166 to allow for a temporary delay for suspected fraud.

Get the latest trends, stats, and research on financial markets and securities.