Legal Opinion
FirstBank Puerto Rico v. Barclays Capital Inc. (In re Lehman Bros.)
District Court, S.D. New York
Decided December 18, 2014No. Bankruptcy Nos. 08-13555 (SCC), 08-01420 (SCC); Adversary No. 10-04103 (SCC); No. 14 Civ. 1935 (NRB)PublishedCited by 7 opinions
1Opinion of the Court
MEMORANDUM AND ORDER
NAOMI REICE BUCHWALD, District Judge.
INTRODUCTION
This appeal arises from the insolvency proceedings of Lehman Brothers Holdings Inc. and its subsidiaries (collectively, “Lehman”).
Long before Lehman filed for bankruptcy, plaintiff-appellant FirstBank Puerto Rico (“FirstBank”) gave bonds to a Lehman entity as collateral for derivative transactions between FirstBank and Lehman. FirstBank’s contract gave that counterparty license to sell those bonds free of FirstBank’s interest. Once FirstBank’s counterparty took advantage of that provision and sold all of FirstBank’s…
2Cases cited19 opinions
- Celotex Corp. v. EdwardsSupreme Court of the United States · 1995
- National Mutual Insurance v. Tidewater Transfer Co.Supreme Court of the United States · 1949
- Vuitton Et Fils S. A. v. Carousel Handbags, and Solomon Mizrahi, Joseph Mizrahi, and Maurice Mizrahi, Additional DefendantsCourt of Appeals for the Second Circuit · 1979
- In Re Chateaugay Corporation, Reomar, Incorporated, the Ltv Corporation, Debtors. Maritime Asbestosis Legal Clinic v. Ltv Steel Company, Inc.Court of Appeals for the Second Circuit · 1990
- In the Matter of Arlo B. Edwards, Debtor-Appellee. Appeal of Golden Guernsey Dairy Co-OpCourt of Appeals for the Seventh Circuit · 1992
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3Cited by7 opinions
- Bernard L. Madoff Investment Securities LLC v. PicardDistrict Court, S.D. New York · 2022
- Bernard L. Madoff Investment Securities LLC v. PicardDistrict Court, S.D. New York · 2022
- FirstBank Puerto Rico v. Giddens (In re Lehman Bros. Inc.)District Court, S.D. New York · 2016
- In Re: The Great Atlantic & Pacific Tea Company, Inc.District Court, S.D. New York · 2023
- In re: Double Green Produce, Inc. v. Carrie Shu-Chuen KongDistrict Court, S.D. New York · 2025
2 more not listed; retrieve them via the Exa API.