Barclays Wins Big In Trustee Row Over Lehman Assets

Law360, New York (June 5, 2012, 7:40 PM EDT) -- A New York federal judge on Tuesday largely sided with Barclays PLC in its multibillion-dollar dispute with Lehman Brothers Inc.'s liquidation trustee over Barclays' purchase of the brokerage, finding that a bankruptcy judge wrongly interpreted the complicated contracts at issue.

U.S. District Judge Katherine B. Forrest partially overturned a ruling by U.S. Bankruptcy Judge James M. Peck awarding so-called margin and other assets to the estate of LBI, the North American brokerage unit of Lehman Brothers Holdings Inc., and finding that Barclays was not entitled to...
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