LBI Trustee Brawls With Barclays Over $4B Sale Assets

Law360, New York (May 5, 2011, 7:24 PM EDT) -- The trustee liquidating Lehman Brothers Inc. continued to clash on Wednesday in New York over Barclays PLC’s purchase of the bankrupt broker-dealer and urged the court to prevent the British bank from swiping billions of dollars in excluded margin assets.

In the tug-of-war over the assets of Lehman Brothers Holdings Inc.'s North American broker-dealer arm, the trustee accused Barclays of trying to undercut a February decision that excluded roughly $5 billion in assets from the sale while granting the bank ownership of hundreds of millions of...
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