Wednesday, November 25, 2009
Creditors seek info about Barclays' takeover of Lehman business
The committee of Lehman Brothers' unsecured creditors requested that information be handed over from the U.K. Financial Services Authority and PricewaterhouseCoopers regarding Barclays and its acquisition of Lehman's brokerage business in North America. Lehman's creditors claim the deal resulted in a $5 billion discount for Barclays. "Last September, at a time of maximum stress on the global financial system, Barclays, the only bidder willing to come forward, purchased Lehman Brothers North American assets," said Michael O'Looney, a Barclays representative. "Now that the market has stabilized, the creditors are trying to get a better deal."
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