Lehman Brothers wants money back from Barclays - Blogging Stocks

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Lehman Brothers wants money back from Barclays
Sep 16, 2009 02:30 PM UTC

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Filed under: Law, Barclays plc ADS (BCS)

Late Tuesday -- on the one-year anniversary of its bankruptcy filing -- Lehman Brothers accused Barclays Capital (NYSE: BCS) of taking $8.2 billion more than it should have when it purchased some of its key assets a year ago. Less than a week after Lehman filed for bankruptcy, the court approved of the sale to Barclays. Now Lehman is asking a judge to force Barclays to return some of the money taken as part of the deal, including $5 billion it says was given as extra collateral, which was not disclosed to the court.

Interesting timing and an interesting claim, don't you think? The timing is interesting because it is a year after the bankruptcy filing, which sounds like more than just a coincidence. But what is truly interesting is the fact that Lehman is trying to get quite a bit of money back by making a claim that was not disclosed to the court.

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Lehman Brothers wants money back from Barclays originally appeared on BloggingStocks on Wed, 16 Sep 2009 09:30:00 EST. Please see our terms for use of feeds.

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