Court ruling in Lehman case adds uncertainty regarding CDOs

02/9/2010 | Financial Times (tiered subscription model)

Collateralized debt obligations have been at the heart of the financial crisis, and a recent court ruling in the bankruptcy of Lehman Bros. added uncertainty to the deals. "If not overturned, this decision could result in [Lehman] receiving billions of dollars from various CDOs that would otherwise be distributed to noteholders," lawyers at Cleary Gottlieb wrote to clients.

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