Lehman Suit Seeks Return Of $5B To $7B From Barclays

Law360, New York (November 17, 2009, 3:46 PM EST) -- The bankruptcy estate of Lehman Brothers Holdings Inc. has sued Barclays Capital Inc., claiming the investment division of Barclays Bank PLC improperly reaped a $5 billion windfall in breach of their asset purchase contract when it hurriedly scooped up Lehman assets last fall.

The adversary proceeding, filed Monday in the U.S. Bankruptcy Court for the Southern District of New York, charges certain Lehman employees with aiding and abetting a breach of fiduciary duty and claims Barclays breached a contract by paying billions less for Lehman assets...
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