Clear Contractual Terms Beat Equitable Principles — Again

October 07, 2015

Bankruptcy courts in the U.S. are widely viewed as favorable fora for debtors, trustees and creditors committees to pursue creative and difficult causes of actions against deep-pocket lenders and others in an attempt to augment the resources available for distributions to creditors. In yet another case, however, the U.S. District Court for the Southern District of New York (after withdrawing the litigation from the bankruptcy court), recently dismissed many of the claims asserted by the Lehman debtors against JPMorgan Chase Bank NA, which were based on the alleged inequitable conduct of JPM.

Read "Clear Contractual Terms Beat Equitable Principles — Again."