Lehman Creditors Blast Brokerage Sale To Barclays

Law360, New York (October 19, 2009, 4:03 PM EDT) -- Executives who negotiated Barclays PLC's purchase of Lehman Brothers Holdings Inc.'s U.S. brokerage arm agreed in advance that Barclays would get a $5 billion discount, and some Lehman executives who moved to Barclays got large undisclosed bonuses, according to newly unsealed motions in the Lehman bankruptcy.

Lehman, its official committee of its unsecured creditors and the trustee in charge of liquidating its brokerage filed mostly unredacted versions of earlier motions asking the court to undo parts of the sale on Thursday in the U.S. Bankruptcy Court...
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