Lehman and Barclays PLC payment
May 19, 2009 | Comments 0
Lehman Brothers Holdings Inc (OTC:LEHMQ) have been seeking permission from the court to look to see if they have been adequately compensated by Barclays Plc (LON:BARC) for its brokerage unit. Reuters
say that this was accruing to the document s that had been filed on Monday.
Bankrupt Lehman Brothers Holdings Inc had sold its North American broker-dealer business to Barleys for $1.75 billion last September; this was just a few days after they had filed for bankruptcy protection.
Lehman has now seen an apparent material discrepancies with the liabilities that Barclays
was meant to assume. These discrepancies also includes a possible windfall to Barclays, which has come from the expense of the estate, it is thought that this could be in the billions.
Filed Under: Business News