Alert September 29, 2009

Goodwin Procter Issues Client Alert Discussing Lehman Bankruptcy Court’s Decision Declaring “Bankruptcy Default” Under Swap Agreement to be Unenforceable

Goodwin Procter’s Financial Restructuring, Hedge Funds and Financial Services practices have issued a Client Alert discussing the decision by U.S. Bankruptcy Judge James Peck ordering Metavante Corporation, a counterparty to Lehman Brothers Special Financing in an interest rate swap transaction, to perform its obligations to pay quarterly fixed amounts owing under the transaction, notwithstanding the “bankruptcy default” of LBSF and its parent.