Barclays Adviser Said He Made $10M In Lehman Deal

Law360, New York (August 27, 2010, 3:44 PM EDT) -- Former Citigroup Inc. executive Michael Klein told a court Friday that he received $10 million as a consultant to Barclays PLC in its now-disputed takeover of bankrupt Lehman Brothers Holdings Inc.'s broker-dealer business.

Klein revealed the fee on Friday in the U.S. Bankruptcy Court for the Southern District of New York while testifying during a trial over Lehman’s allegations that the British financial firm reaped a windfall of as much as $11 billion in the deal.

The payment was a flat fee and “not incentive in...
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