Lehman CDO Assets Worried Barclays: Sidley Atty

Law360, New York (May 4, 2010, 2:28 PM EDT) -- A former Lehman Brothers Holdings Inc. division head, now with Sidley Austin LLP, testified Tuesday about assets that he said put Barclays PLC on edge prior to the bankrupt investment bank’s business sale, including an $8.5 billion collateralized debt obligation known as Racers.

Sidley Austin restructuring attorney James P. Seery Jr., formerly the global head of Lehman’s fixed-income loan business and then managing director of Barclays Capital, testified Tuesday in a trial over Lehman’s flurried asset sale to Barclays in September 2008, providing a number of...
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