Barclays Seeks Dismissal Of $500M Lehman Bonus Suit

Law360, New York (August 8, 2011, 8:32 PM EDT) -- Barclays Capital Inc. on Friday asked a New York bankruptcy judge to throw out Lehman Brothers Holdings Inc.'s $500 million suit alleging Barclays was contractually obligated to pay $2 billion to cover Lehman employee bonuses.

The $2 billion figure that came out when Barclays was negotiating to buy bankrupt Lehman's North American assets was a good faith estimate, not a guarantee, Barclays said in a court filing supporting a motion for summary judgment.

“LBHI argues that while the $2 billion may originally have been an estimate,...
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