- 11 U.S.C.
In re Lehman Bros. Holdings Inc.
May
05
2010
Ruling
Creditor ordered to turn over funds held pursuant to master credit swap agreement.
Procedural posture
Movant debtors sought an order enforcing the automatic stay and compelling the payment of certain funds held by respondent creditor in a general deposit account. The debtors asserted that the creditor could not exercise a setoff under 11 U.S.C.S. § 553 or the exceptions under 11 U.S.C.S. §§ 560(a) and 561(a), and that its freeze of the debtors' funds violated the automatic stay under 11 U.S.C.S. § 362.
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Court
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