Lehman Brothers Financial SA (LEHNQ)

[GreatFinancialCosplay08]

Thank you for your response.

Anyone think this has a chance to go to SCOTUS since the nature of it sets the precedent now for the entire ISDA Master Agreement of to be walked out on by CDS sellers when they don't want to pay up? This is insanity.

If anyone has any reporting from PwC UK or Rossman (Quinn Emmanuel lawyer for LBIE) on this I'd like to know - I just pulled this that certain cases can be heard by SCOTUS and this has a serious concern for ISDA Master Agreements and the entire derivatives market as we've all discussed here going fwd. I cannot see Donald Trump not being extremely upset at this insane decision!

New York State Court of Appeals cases can be taken up by the Supreme Court of the United States (SCOTUS) under certain circumstances. Generally, SCOTUS can review state court decisions if there is a federal question involved, such as an issue related to the U.S. Constitution, federal laws, or treaties. However, in this specific case, the motion for leave to appeal was denied by the New York Court of Appeals, which means that the case has reached its final decision at the state level.

If there were a significant federal issue at stake, the parties involved could potentially petition SCOTUS for a writ of certiorari, asking the Court to review the case. However, SCOTUS grants certiorari in a very limited number of cases each year.