Legal Opinion
In Re Lehman Brothers Holdings Inc.
United States Bankruptcy Court, S.D. New York
Decided May 12, 2009No. 11-01258PublishedCited by 12 opinions
1Opinion of the Court
MEMORANDUM DECISION DENYING RELIEF FROM THE AUTOMATIC STAY TO EFFECTUATE SETOFF UNDER 11 U.S.C. § 553(a)
JAMES M. PECK, Bankruptcy Judge. Introduction
This case raises issues relating to the right to setoff at a time when funds often move from one bank account to another at the speed of light. Despite this ability to move funds instantly, the fact pattern presents the challenge of determining rights when there is a delay between the instruction and execution phases of a transfer between two bank accounts. Here, the transfer of the funds in dispute was pending over the weekend before Lehman…
2Cases cited11 opinions
- Barnhill v. JohnsonSupreme Court of the United States · 1992
- Citizens Bank of Md. v. StrumpfSupreme Court of the United States · 1995
- Studley v. Boylston National BankSupreme Court of the United States · 1913
- In the Matter of the Bohack Corporation, Debtor-In-Possession. The Bohack Corporation v. Borden, Inc.Court of Appeals for the Second Circuit · 1979
- Delbrueck & Co. v. Manufacturers Hanover Trust CompanyCourt of Appeals for the Second Circuit · 1979
6 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- In Re Lehman Bros. Holdings, Inc.United States Bankruptcy Court, S.D. New York · 2010
- In re Sivec SRLUnited States Bankruptcy Court, E.D. Oklahoma · 2012
- Bank of America, N.A. v. Lehman Bros. Holdings Inc. (In Re Lehman Bros. Holding Inc.)United States Bankruptcy Court, S.D. New York · 2010
- Charles Russell, LLP Ex Rel. Awal Bank, BSC v. HSBC Bank USA, N.A. (In Re Awal Bank, BSC)United States Bankruptcy Court, S.D. New York · 2011
- Feltman v. Noor Staffing Group, LLC (In re Corporate Resource Services, Inc.)United States Bankruptcy Court, S.D. New York · 2017
7 more not listed; retrieve them via the Exa API.