Hedge Fund Group Backs Lehman Trustee's Appeal Over Sale

By Lisa Uhlman (October 1, 2012, 8:38 PM EDT) -- A hedge fund advocacy group filed an amicus curiae brief Saturday telling the Second Circuit that a New York federal court's ruling in Lehman Brothers Inc.'s bankruptcy will cause a "substantial loss of confidence" in the capital markets and must be overturned.

The Managed Fund Association, which says it represents the global alternative investment industry, takes issue with U.S. District Judge Katherine B. Forrest's June 5 ruling largely siding with Barclays PLC in its multibillion-dollar dispute with the liquidation trustee for LBI, Lehman Brothers Holdings Inc.'s North American brokerage unit, over Barclays' 2008 purchase of the brokerage. Judge Forrest had found...

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