duetto
Forumer storico
08-13555-scc Doc 57695 Filed 02/20/18 Entered 02/20/18 22:31:12
The Credit Default Transactions
5. On the Commencement Date, LBHI and LBSF were parties to numerous structured finance transactions for which the BNYM Entities acted in various capacities, including as indenture trustee, custodian or paying agent. Since the Commencement Date, the vast majority of these structured transactions have been liquidated, terminated or otherwise resolved. A relatively small number remain active. Over the last several months, the Plan Administrator has reviewed each of these active transactions and engaged in discussions with the BNYM Entities to resolve open issues that have prevented the closeout of these transactions. The discussions have culminated in the Global Release Agreement.
ORDERED that this Order is binding and effective on the Plan Administrator, LBHI and its subsidiaries that commenced the Chapter 11 Cases, including LBSF (collectively, the “Chapter 11 Entities”), the BNYM Entities, as well as any successor trustees under the Indentures. The Plan Administrator, the Chapter 11 Entities, and the BNYM Entities, in their services as trustees, custodian and/or paying agent in connection with any of the Credit Default Transactions, and all of their respective current and former officers, directors, shareholders, employees, agents, attorneys, successors and assigns, shall be and hereby are, fully exculpated
and shall not have liability to each other or the Chapter 11 Entities, arising out of, relating to, or in connection with the Motion, the Global Release Agreement or this Order, except to the extent of any obligations set forth in the Global Release Agreement that have not been performed; and it is further"
The Credit Default Transactions
5. On the Commencement Date, LBHI and LBSF were parties to numerous structured finance transactions for which the BNYM Entities acted in various capacities, including as indenture trustee, custodian or paying agent. Since the Commencement Date, the vast majority of these structured transactions have been liquidated, terminated or otherwise resolved. A relatively small number remain active. Over the last several months, the Plan Administrator has reviewed each of these active transactions and engaged in discussions with the BNYM Entities to resolve open issues that have prevented the closeout of these transactions. The discussions have culminated in the Global Release Agreement.
ORDERED that this Order is binding and effective on the Plan Administrator, LBHI and its subsidiaries that commenced the Chapter 11 Cases, including LBSF (collectively, the “Chapter 11 Entities”), the BNYM Entities, as well as any successor trustees under the Indentures. The Plan Administrator, the Chapter 11 Entities, and the BNYM Entities, in their services as trustees, custodian and/or paying agent in connection with any of the Credit Default Transactions, and all of their respective current and former officers, directors, shareholders, employees, agents, attorneys, successors and assigns, shall be and hereby are, fully exculpated
and shall not have liability to each other or the Chapter 11 Entities, arising out of, relating to, or in connection with the Motion, the Global Release Agreement or this Order, except to the extent of any obligations set forth in the Global Release Agreement that have not been performed; and it is further"
