Lehman Allowed To Investigate Barclays Sale

Law360, New York (June 24, 2009, 12:00 AM EDT) -- A bankruptcy judge is allowing Lehman Brothers Holdings Inc. and some of its creditors to investigate the sale of its brokerage unit to Barclays PLC shortly after it collapsed last September, over objections from Barclays.

Judge James M. Peck, of the U.S. Bankruptcy Court for the Southern District of New York, granted Lehman's motion to conduct discovery on the sale under Rule 2004 of the Bankruptcy Code at a hearing on Wednesday, according to Lehman spokeswoman Kimberly MacLeod.

The order also gives creditors that joined in...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.