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District Court Rejects Challenge To Lehman Sale

Law360 (March 17, 2009, 12:00 AM EDT) -- A district judge has shot down a bid by a group of investment funds to reverse a key condition of Lehman Brothers Holdings Inc.'s sale of most of its North American operations to Barclays PLC, calling the funds' claims speculative.

Judge Denise Cote of the U.S. District Court for the Southern District of New York on Friday dismissed an appeal by Bay Harbour Management LC and five other entities, which hoped to reverse the provision of the sale order that made Lehman's assets free and clear...
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