RRB’s Motion on behalf of Charity in Lehman Bros. New York Bankruptcy Case Noted in Legal Press

in News by Matthew Ly

On August 12, 2013, Timothy D. Reuben is quoted in a Law360 article, entitled “Lehman Can’t Avoid $17M Swap Deal Suit, Charity Says.”  The article comments on the firm’s motion on behalf of client Retirement Housing Foundation seeking to lift the automatic stay on RHF’s claims against Lehman Brothers.  RHF asserts that Lehman Brothers owes it $16.8 million for a canceled interest rate swap, and is seeking to have the matter litigated in California.  Quoting from RHF’s papers, the Law360 article recited, “Lehman caused the situation, and now seeks to reap the benefit from it.  There can be no question that Lehman used the ‘shield’ provided by the bankruptcy case, along with its knowledge of the financial markets, as a ‘sword’ to gain a tactical advantage over its counterparties.”