Representatives of the defunct Lehman Brothers estate asked a US judge to re-open the contract that transferred the bank’s North American assets to Barclays Capital a year ago, claiming that up to $8bn in cash and securities was transferred to BarCap without the court’s knowledge, the FT said. Barclays, which has fought all attempts by Lehman’s executors to reopen the transaction, said: “This is an opportunistic claim. Now that the economy has begun to stabilise, the Lehman Estate is trying to re-trade the deal on the basis of a meritless argument.”

This entry was posted by Stacy-Marie Ishmael on Wednesday, September 16th, 2009 at 4:47 and is filed under Capital markets. Tagged with bankruptcy, Barclays Capital, Lehman Brothers. Edit this entry.