Barclays Almost Bailed On Lehman Deal: Top Lawyer

Law360, New York (May 3, 2010, 5:30 PM EDT) -- The general counsel for Barclays PLC’s investment banking unit said Monday that the British firm would have most likely walked away from a hastily arranged deal to purchase assets from bankrupt Lehman Brothers Holdings Inc. if extra benefits had not been added to the transaction to offset growing risks.

Barclays Capital global general counsel Jonathan Hughes offered that testimony in a trial over the Lehman sale in the U.S. Bankruptcy Court for the Southern District of New York, in response to a lawyer who asked if...
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