BS&F Represents Barclays as Lehman Disputes Bankruptcy Deal

06.16.2010

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Barclays’ Memorandum in Opposition to the Rule 60 Motions and in Support of its Motion to Enforce the Sale Order and Secure Delivery of All Undelivered Assets (PDF | 1.16 M)
Preliminary Statement from Barclays' Memorandum (PDF | 155.25 K)

Lehman Brother's Holding Inc. has filed allegations that BS&F client Barclays PLC underpaid for Lehman's assets by up to $10 Billion, one year after Lehman Brothers declared bankruptcy. Barclays, represented by BS&F, has demonstrated that these claims are without legal or factual merit and maintains the position that Lehman's allegations are "an opportunistic claim. Now that the economy has begun to stabilize, the Lehman estate is trying to retrade the deal on the basis of a meritless argument."

Opening arguments were presented in the U.S. Bankruptcy Court for the Southern District of New York on April 9th. The evidentiary hearing began with the Movants presenting their evidence over two weeks starting April 26th, with additional dates added late July; Barclays is scheduled to respond late August.

Please follow the below links for leading coverage of the trial.

The Guardian, June 22, 2010
Barclays' Bob Diamond chided by judge in Lehman Brothers trial
http://www.guardian.co.uk/business/2010/jun/22/barclays-bob-d...

City AM, June 22, 2010
Barclays boss rejects claim
http://www.cityam.com/news-and-analysis/barclays-boss-rejects...

London Telegraph, June 22, 2010
Bob Diamond tells judge why Barclays bought Lehman
http://www.telegraph.co.uk/finance/financetopics/lehman-broth...

Bloomberg, June 22, 2010
Barclays Bought Lehman Brokerage in `Riskiest Week of My Life,' CEO Says
http://www.bloomberg.com/news/2010-06-22/barclays-bought-lehm...

Reuters, June 22, 2010
Lehman assets a "dog's breakfast": Barclays president
http://www.reuters.com/article/idUSTRE65K1NV20100622

Reuters, June 21, 2010
Barclays president says media told of deal gain
http://www.reuters.com/article/idUSN2123836920100621

London Guardian, June 21, 2010
Lehman trial claims Barclays deal took place in 'total chaos'
http://www.guardian.co.uk/business/2010/jun/21/barclays-lehma...

London Telegraph, June 21, 2010
Bob Diamond tells judge why Barclays bought Lehman
http://www.telegraph.co.uk/finance/financetopics/lehman-broth...

AmLaw Daily, June 21, 2010
Heavyweight Clash: Bob Diamond Vs. Jones Day's Bob Gaffey
http://www.law.com/jsp/tal/PubArticleTAL.jsp?id=1202462895937...

Financial Times, June 21, 2010
Barclays chief says Lehman was a risk
http://www.ft.com/cms/s/0/3a5564a2-7d5b-11df-a0f5-00144feabdc...

Reuters, June 16, 2010
BarCap chief to testify at Lehman windfall trial
http://uk.reuters.com/article/idUKN1615171320100616

The Am Law Litigation Daily, May 7, 2010
Lehman Has a Rare Good Day in Barclays Windfall Trial
http://www.law.com/jsp/tal/digestTAL.jsp?id=1202457785922&src...

Bloomberg, April 30, 2010
Barclays Sought Out-of-Bounds Lehman Assets, Lawyer Says
http://www.businessweek.com/news/2010-04-30/barclays-sought-o...

Bloomberg, April 29, 2010
Lehman Ex-CFO Says Barclays Offered Him $4.5 Million
http://www.businessweek.com/news/2010-04-29/lehman-ex-cfo-say...

Am Law Litigation Daily, April 28, 2010
On the Witness Stand, Harvey Miller Defends Lehman Brokerage Sale to Barclays
http://www.law.com/jsp/tal/digestTAL.jsp?id=1202454108733&On_...

Bloomberg, April 28, 2010
Lehman Brokerage Sale Was Good for U.S., Lawyer Says (Update1)
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a3kqCv...

The Times - London, April 26, 2010
Lehman ‘did not expect to lose’ on Barclays deal
http://business.timesonline.co.uk/tol/business/industry_secto...

The Times - London, April 26, 2010
Barclays boss called to US court over Lehmans
http://business.timesonline.co.uk/tol/business/industry_secto...

Bloomberg, April 26, 2010
Lehman Director Doesn’t Recall Barclays Profit Talks
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aNq0IO...

Sunday Express - London, April 25, 2010
Barclays in Legal Battle over Lehman Billions
http://www.express.co.uk/posts/view/171372/Barclays-in-legal-...

Financial Times, April 25, 2010
Trial to start over Barclays’ Lehman deal
http://www.ft.com/cms/s/0/74a8a7fe-5097-11df-bc86-00144feab49...

Wall Street Journal, February 2, 2010
Barclays Reveals Key Weapon In Lehman Battle
http://blogs.wsj.com/bankruptcy/2010/02/02/barclays-reveals-k...

American Lawyer, February 1, 2010
Big Suits - In re Lehman Brothers Holdings
http://www.law.com/jsp/tal/PubArticleTAL.jsp?id=1202439284577...

Bloomberg, January 29, 2010
Barclays Says Lehman Owes It $3 Billion on Brokerage Deal
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=awk64m...

New York Times, January 29, 2010
Barclays Seeks Dismissal of Lawsuit by Lehman Estate
http://dealbook.blogs.nytimes.com/2010/01/29/barclays-seeks-d...

Wall Street Journal, January 29, 2010
The Daily Docket: Lehman Revisited
http://blogs.wsj.com/bankruptcy/2010/01/29/the-daily-docket-l...

Times Online, January 29, 2010
Barclays fights back against Lehman lawsuit
http://business.timesonline.co.uk/tol/business/industry_secto...

Reuters, January 29, 2010
Barclays fires back at Lehman windfall-profit suit
http://www.reuters.com/article/idUSTRE60S3PK20100129

AmLaw Daily, January 29, 2010
Deep into the Lehman-Barclays Dispute
http://amlawdaily.typepad.com/amlawdaily/2010/01/deep-into-th...

The Telegraph - UK, January 29, 2010
Barclays claims it is still owed $3bn over its purchase of Lehman's US business
http://www.telegraph.co.uk/finance/newsbysector/banksandfinan...

Am Law Litigation Daily, January 29, 2010
Barclays Uses Harvey Miller Deposition to Refute Lehman Claims
http://www.law.com/jsp/tal/digestTAL.jsp?id=1202439662024&Bar...

Financial Times, January 29, 2010
Barclays Capital defends Lehman deal
http://www.ft.com/cms/s/0/52875556-0d1e-11df-a2dc-00144feabdc...

Wall Street Journal, January 29, 2010
Barclays Fires Back At Lehman Windfall Claims
http://online.wsj.com/article/SB10001424052748703389004575033...

Reuters, January 29, 2010
Barclays urges dismissal of Lehman "windfall" suit
http://www.reuters.com/article/idUSTRE60S3PK20100129

Law360, January 29, 2010
Lehman Buy Was Aboveboard: Barclays
http://www.law360.com/articles/146364

Reuters, December 14, 2009
Barclays' Lehman assets performing well-Diamond
http://in.reuters.com/article/bankingfinancial-SP/idINN141580...

The Am Law Litigation Daily, December 10, 2009
Barclays to Lehman Creditors: Nothing Secret About the Lehman Brothers Sale
http://www.law.com/jsp/tal/digestTAL.jsp?id=1202436204275&src...

Reuters, December 10, 2009
Barclays says had no "secret" gains in Lehman deal
http://www.reuters.com/article/idUSN0917260220091210

Bloomberg, December 9, 2009
Barclays Says Lehman Brokerage Sale Gave It No ‘Secret’ Gain
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a2eLc6...

The AmLaw Daily, December 9, 2009
Barclays, Boies Schiller Blow Open Attorney-Client Privilege in Lehman Case
http://amlawdaily.typepad.com/amlawdaily/2009/12/barclayspriv...

London Telegraph, December 9, 2009
Barclays' Lehman Bros profit no 'secret'
http://www.telegraph.co.uk/finance/newsbysector/banksandfinan...

Law360, December 8, 2009
Lehman Creditors, Barclays Spar Over Atty Privilege
http://www.law360.com/articles/137994

The Am Law Daily, October 16, 2009
Fees and More Fees: Lehman, Chrysler Updates
http://amlawdaily.typepad.com/amlawdaily/2009/10/fees-and-mor...

Reuters, October 15, 2009
Barclays owed $3 bln in assets from Lehman-lawyer
http://www.reuters.com/article/companyNews/idUSN1524013020091...

The Wall Street Journal, September 18, 2009
Hurdles for a Bulked-Up Barclays
http://online.wsj.com/article/SB125322233998520905.html#mod=W...

Financial Times, September 16, 2009
Lehman creditors challenge '$8bn' transfer
http://www.ft.com/cms/s/0/de587794-a258-11de-9caa-00144feabdc...

The Wall Street Journal, September 16, 2009
Lehman Blasts Barclays 'Windfall'
http://online.wsj.com/article/SB125303142570412449.html

Bloomberg, September 16, 2009
Lehman Says Barclays Got $5 Billion Discount, Wants Assets Back
http://www.bloomberg.com/apps/news?pid=20601087&sid=axX9PCd9q...

The New York Times DealBook, September 15, 2009
Lehman Wants Judge to Revise Barclays Deal
http://dealbook.blogs.nytimes.com/2009/09/15/lehman-wants-jud...

Related Practice: Corporate

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