Barclays Saw Signs Of Lehman Options Losses: Exec

Law360, New York (August 30, 2010, 7:50 PM EDT) -- Options account administrators for Lehman Brothers Holdings Inc. demanded more than $1 billion to cover value drops following Lehman's Chapter 11 filing, a derivatives executive for Lehman’s broker-dealer business buyer Barclays PLC told a court Monday.

Elizabeth James, a Barclays director handling futures and options business, testified in a trial over Barclays' now-disputed purchase of Lehman's business assets in the U.S. Bankruptcy Court for the Southern District of New York, saying the volatility in the accounts gave Barclays reason to be wary of purchasing Lehman's business....
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