Lehman's European Arm Blasts Trustee's $9B Decision

Law360, New York (August 3, 2011, 6:40 PM EDT) -- The European brokerage arm of Lehman Brothers Holdings Inc. on Monday said in New York that the trustee overseeing the liquidation of the failed investment bank's U.S. brokerage incorrectly classified its claims and denied it nearly $9 billion it was owed.

Lehman Brothers Inc. Europe said in an objection to the classification in New York bankruptcy court that trustee James W. Giddens determined in September that the European brokerage's claims were not customer claims in violation of the Securities Investor Protection Act. Giddens determined that because...
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