Lehman litigation: Courting trouble

Unravelling the many failed structured finance deals with Lehman Brothers as counterparty is the unenviable job of a small army of lawyers and bankers. Inevitably, a handful of deals are being settled in court, and the lawsuits may well set a precedent for how the structured finance and derivatives markets operate from now on. Lehman Brothers’ filing for Chapter 11 bankruptcy on September 15, 2008 has become a watershed in financial history. Few events have precipitated such drastic government...

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