Lehman Bros. Special Fin. v. Ballyrock ABS CDO-2007-1 Ltd. (In re Lehman Bros. Holdings)

Ruling: 
Swap agreement with entity related to debtor was improperly terminated pursuant to ipso facto clause.
Procedural posture: 
Plaintiff company, which was involved in a swap agreement with defendant company, filed an adversary proceeding against defendant when defendant took steps to terminate the swap after the debtor, which was related to plaintiff, filed a Chapter 11 petition. Defendant filed a motion to dismiss for failure to state a claim upon which relief could be granted.
Issue: 
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Commercial case opionion summary, case decided on May 12,2011, LexisNexis #0611-043