Lehman, Barclays' $3B Contract Fight Hits District Court

Law360, New York (April 20, 2012, 8:28 PM EDT) -- Lehman Brothers Inc.'s liquidation trustee and Barclays PLC, which bought much of the broker's assets, went before a New York federal judge Friday, sparring over contractual wording details that could be worth about $3 billion.

Lawyers for the two sides argued for nearly four hours before U.S. District Judge Katherine Forrest on what should happen to the billions of dollars whose fate has come into dispute because the quickly negotiated Lehman sale agreements have proved to mean different things to each side.

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Case Information

Case Title

In Re: Lehman Brothers Holdings Inc.


Case Number

1:11-cv-06052

Court

New York Southern

Nature of Suit

Bankruptcy Appeal (801)

Judge

Katherine B. Forrest

Date Filed

August 29, 2011

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