One Year Ago In Derivatives Week
A bankruptcy court hearing to determine whether Lehman Brothers Holdings, Inc. could start selling in-the-money swaps to other banks was postponed, upsetting some lawyers. [Judge James Peck granted an initial order giving Lehman the green light on most contracts in late Dec. 2008, but that didn't apply to some counterparties that continued to object. After a series of legal maneuvers, it was announced last Wednesday that the hearing to address their concerns would be held in June 2010.]
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