Source: emii.com
The bankruptcy estate of Lehman Brothers has charged some ex-executives of working with Barclays to give the U.K. bank a ‘windfall’ of around $8.2 billion, The Wall Street Journal reports. The Lehman estate alleges the U.S. bank’s executives, along with Barclays’ negotiators, helped it realize a $5 billion windfall on a portfolio of Lehman securities.
In all, Barclays underpaid by nearly $10 billion for Lehman’s assets, according to the court documents. The windfall took place when Barclays injected $45 billion into Lehman in exchange for $50 billion in securities.
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