- Joint Effort Needed to Unwind Stimulus: APEC Leaders
- Obama to Outline Strategy to Boost US Exports to Asia
- Friday May See 'Risk Trade' Stalling; Dollar in Focus
- Job Market Politics to Keep Interest Rates Low
- AIG, Symbol of Crisis, Watches Its Stock Zoom Back
- Cities With the Most Home Price Reductions
- Disney Profit, Sales Top Street Forecasts; Shares Jump
- Bill Gates Praises Apple's Jobs for 'Saving the Company'
- Is Euphoric Market Ignoring Warning Signs?
- EXCERPTS and IMAGES: Warren Buffett & Bill Gates - Keeping America Great
- Microsoft's Bill Gates Praises Apple's Steve Jobs For 'Saving the Company'
- Gold Is a Bad Inflation Hedge—Like Oil: Stock Picker
- Intel's Andy Bryant Offers An Explanation
- US 'Actively Working' on Weaker Dollar: Fund Manager
- Options Boil on Biotech Buyout Rumors
- Warren Buffett's $100,000 Offer and $500,000 Advice for Columbia Business School Students
- Activision Blizzard's "Modern Warfare 2" Sales Break Records
- 5-Star Manager's 5 Stocks for Changing Markets
MOST SHARED
- CNBC TRANSCRIPT: Warren Buffett & Bill Gates - Keeping America Great
- Pharma & Social Media
- Is Euphoric Market Ignoring Warning Signs?
- Microsoft's Bill Gates Praises Apple's Steve Jobs For 'Saving the Company'
- Warren Buffett and Bill Gates Share Their 'Optimism' With Eager Columbia Business Students
- Disney Profit, Sales Top Street Forecasts; Shares Jump
- Obama to Outline Strategy to Boost US Exports to Asia
- China Fourth Quarter Growth Could Hit 10%: Official
- Alleged Florida Ponzi Scheme Could Top $1 Billion
- Video Game Sales Plunge, but Have They Hit Bottom?
Text Size 
Barclays Capital is still owed billions in assets from bankrupt Lehman Brothers, whose U.S. broker-dealer business it purchased last year, a Barclays lawyer told a federal judge on Thursday.
 |
Sharon Lorimer |
The British bank's lawyer, Hamish Hume, told Judge James Peck of federal bankruptcy court in Manhattan that Lehman, which is seeking to change the terms of the transaction, has not yet delivered $3 billion of assets he said is owed to Barclays. He did not disclose what that assets were.
Lehman said in court documents last month that Barclays Capital got an $8.2 billion "windfall profit" from excess assets it took in the fire sale of Lehman's U.S. brokerage business, a deal quickly assembled in September 2008 in the days following the Lehman bankruptcy.
Lehman claimed that "critical changes" were made to the sale in between the time the sale order was signed and the deal was closed, resulting in Barclays gaining control of assets that Lehman said were not supposed to be part of the purchase.
Lehman and Barclays were in court on Thursday for a status conference over their dispute, in which they were discussing a schedule for evidentiary hearings.
A lawyer for Lehman did not counter Barclays claim in court.
Barclays has said Lehman is making "an opportunistic claim" and trying to
"re-trade the deal."
More From CNBC.com
- European Stock Exchanges Rattled by Upstarts
- Bad Customer, Bad, Bad, Customer
- Premium Seats Worth Less Than 50% of Cost
- Warren Buffett and Bill Gates spoke to Columbia students, and Buffett made the students a startling offer.
- They may have wrecked their companies or saved our economy. Tell us what you think.
- Big pharma embraces social media, but how much should a tightly regulated sector say on Facebook or Twitter?
- A European dating site finds lovelorn singles from one country to be consistently uglier. Which is it?
- Contributor David Pogue looks at two of the latest efforts to perfect the digital pocket camera.
- PepsiCo is ramping up its onsite health facilities for workers.
Data is a real-time snapshot *Data is delayed at least 15 minutes