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Quote of the Day

posted by Stephen Lubben

In re Bank of America, N.A, 11-24503 MER, 2011 WL 2493056 (Bankr. D. Colo. June 21, 2011):

Since there is no allegation Bank of America is a railroad ...  the Court accepts Bank of America's representation that it is a “bank” for purposes of § 109(b)(2).

 

Comments

Doesn't an involuntary petition not dismissed in a limited number of days trigger an event of default on ISDA swaps documentation?

Not an issue here -- petition filed on the 17th, BofA moved to dismiss on the 19th, court dismissed on the 21st.

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