By Reuters for The New York Times, March 18, 2010
Lehman Brothers Holdings Inc fired new allegations at Barclays Capital Inc on Thursday, saying the British investment bank got a $13 billion "windfall" profit from its deal to buy Lehman's U.S. brokerage in September 2008.
In documents filed in U.S. bankruptcy court in Manhattan, Lehman claimed new evidence showed that, while Barclays said it had a "day one" accounting gain of $4.2 billion on the Lehman acquisition, in reality it received a $13 billion windfall "immediately upon acquisition."
Lehman filed for bankruptcy on September 15, 2008, the largest U.S. bankruptcy filing in history. Its flagship U.S. brokerage business was sold to Barclays for about $1.85 billion less than a week later in a hurriedly arranged deal.
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03/19/2010
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