Barclays Knew Of Cushion In Lehman Deal: Exec

Law360, New York (May 07, 2010, 6:00 PM ET) -- Speaking in a trial over an alleged windfall in the takeover of Lehman Brothers Holdings Inc.’s core business, a Barclays PLC executive who oversaw the deal acknowedged that the British firm knew an asset package it bought for $45 billion could be worth as much as $52 billion.

Rich Ricci, who is now co-chief executive of corporate and investment banking for Barclays Capital, testified as one of the final witnesses in an initial two-week trial over the deal Friday in U.S. Bankruptcy Court for the Southern...
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