Lehman Brothers Flip Clause Appeal Set to Be Heard Before UK Supreme Court

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Lehman Brothers Special Financing Inc.’s pending appeal against the judgments of the UK High Court and the Court of Appeal in the so called “flip clause cases”, concerning the enforceability of flip clauses, is scheduled to be begin with Belmont Park Investments Pty Limited (Belmont Park Investments Pty Limited v BNY Corporate Trustee Services Limited and Lehman Brothers Special Financing Inc (UKSC 2009/0222)) on March 1, 2011.

The case is being closely watched by market participants interested to know whether the UK Supreme Court will resolve or confirm the apparent disparity between English and U.S. law regarding the enforceability of such clauses.

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Published In: General Business Updates, Conflict of Laws Updates, Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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