Hedge Fund Challenges Lehman-Barclays Deal

Law360, New York (September 22, 2008, 12:00 AM EDT) -- A group of investment funds that claimed their cash and securities disappeared after being swept up in an $8 billion overseas transfer before Lehman Brothers Holdings Inc.'s Chapter 11 filing are challenging the order approving the sale of Lehman's key North American operations to Barclays PLC.

Bay Harbour Management LC and five other entities filed their notice of appeal, dated Sept. 21, in the U.S. Bankruptcy Court for the Southern District of New York. U.S. Bankruptcy Judge James Peck signed off on an order giving a...
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