Lehman Exec Says He Knew Of Hidden Barclays Perks

Law360, New York (April 27, 2010, 4:00 PM ET) -- Former Lehman Brothers Inc. executive Herbert “Bart” McDade acknowledged to a bankruptcy court on Tuesday that he was aware of hidden benefits Barclays PLC could realize in a $45 billion takeover of Lehman's North American broker-dealer business.

McDade, the former chief operating officer and president of the now-bankrupt Lehman, took the stand for a second day of a trial in the U.S. Bankruptcy Court for the Southern District of New York over whether Lehman can recover as much as $11.2 billion from Barclays on the grounds...
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