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Email In a recent ruling from the bench, Judge James M. Peck of the United States Bankruptcy Court Southern District of New York held that Metavante Corporation’s suspension of payments under an outstanding swap agreement with Lehman Brothers Special Financing Inc. (“LBSF”) was not safe harbored, and instead violated the automatic stay of section 362(a) of the Bankruptcy Code. As a result, Metavante is required to pay more than $6 million in past due payments, including default interest, to the Debtors’ estates. https://www.cadwalader.com/resources/clients-friends-memos/lehman-bankruptcy-court-holds-isda-swap-counterparty-in-violation-of-automatic-stay-counterparty-seeks-modification