Barclays Seeks To Keep $7B From 2008 Lehman Deal

Law360, New York (April 6, 2010, 4:20 PM EDT) -- Barclays Capital Inc. has told a bankruptcy court that its $45 billion deal to buy Lehman Brothers Holdings Inc. assets did not generate an improper $6.7 billion windfall, as a trustee for U.S. investors has alleged, and that the deal should be honored in its entirety.

Barclays argued Monday in court papers filed in the U.S. Bankruptcy Court for the Southern District of New York that liquidation trustee James W. Giddens is trying to employ a “heads I win, tails you lose” approach to a contractual...
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