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Lehman Trustee To Pay $1.1B To Barclays

Lehman Brothers’ trustee, James Giddens, will pay $1.1 billion to Barclays in disputed assets linked to its acquisition of Lehman’s North American business.

Lehman Brothers’ trustee, James Giddens, will pay $1.1 billion to Barclays in disputed assets linked to its acquisition of Lehman’s North American business, Bloomberg reports. As per the filing, the assets were held in clearance boxes to clear trades and should have been transferred to the London-based bank in September 2008.

The trustee in charge of liquidating Lehman’s brokerage, previously asked $2.1 billion in margin assets from Barclays, in addition to the interest at 9%. Both the parties are still under conflict over about $4 billion of margin assets and another $769 million of customer reimbursements, adds Reuters.

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