Lehman Trustee Agrees To Pay Barclays $1.1B In Assets

Law360, New York (May 9, 2011, 9:53 PM EDT) -- The trustee liquidating Lehman Brothers Inc. agreed at a hearing Monday in New York to pay Barclays PLC $1.1 billion, but repudiated the British bank’s designs on $4 billion in margin assets excluded from the sale of the Lehman brokerage arm.

U.S. Bankruptcy Judge James Peck considered Barclays and Lehman Brothers Inc. trustee James Giddens’ competing interpretations of his February order that excluded roughly $5 billion in assets from Barclay’s Section 363 acquisition, including $4 billion in margin assets that would belong to LBI’s customers....
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