Representative Cases for Bankruptcy
Increasingly, our clients call upon us to handle matters for them in Bankruptcy Court.
The firm was responsible for filing Freddie Mac’s proofs of claim in the Lehman Brothers bankruptcy, one of the largest and most complex in history, and in pursuing the claims and, with the conservator's counsel, negotiating the settlement. Ultimately, the United States Bankruptcy Court for the Southern District of New York approved a settlement consisting of an immediate cash payment of $767 million to resolve Freddie Mac’s claims, which involved complex derivative transactions, short term loan transactions, and mortgage seller/servicer related obligations.
As a further example, in the Capmark bankruptcy in Delaware, we successfully represented a client’s interests with regard to the transfer of its mortgage servicing rights as part of the sale of the debtor's mortgage servicing business.
As Special Labor Counsel for a major airline that filed bankruptcy in the Southern District of New York, LCBF attorneys conducted a 14-week evidentiary hearing involving Railway Labor Act and First Amendment issues and successfully obtained several preliminary injunctions against the airline unions allowing the airline to continue to operate with minimal interference.
We also have defended clients in adversary proceedings and against preference claims and represented insurers in declaratory judgment actions in Bankruptcy Court.