A federal judge in New York has asked Barclays to pay $1 billion to Lehman Brothers’ bankruptcy trustee, Financial Times reports. The U.S. bankruptcy judge also ordered Barclays to pay the trustee 5% interest on the assets from September 2008.
The London-based bank acquired Lehman Brothers’ North American broker-dealer operations after its bankruptcy filing in 2008. Barclays had argued that it should keep about $1.5 billion assets in the account, particularly government-issued securities with maturities of over three months, adds The Wall Street Journal.
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