Reuters: Bankruptcy News: Barclays may recover Lehman-linked assets -ruling

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Barclays may recover Lehman-linked assets -ruling Jun 5th 2012, 20:00 June 5 | Tue Jun 5, 2012 4:00pm EDT June 5 (Reuters) - Barclays Plc is entitled to recover roughly $1.8 billion of disputed assets and interest related to Lehman Brothers Holdings Inc's bankruptcy, a U.S. federal judge said, reversing a decision by a federal bankruptcy judge. U.S. District Judge Katherine Forrest in Manhattan on Tuesday said Barclays may recover about $1.5 billion of assets related to exchange-traded derivatives of Lehman's brokerage unit, Lehman Brothers Inc, plus about $280 million of interest. Barclays bought most of the brokerage unit's North American operations in the week after the Lehman parent's Sept. 15, 2008, bankruptcy, a primary trigger of the global financial crisis. Tuesday's decision partially reversed a February 2011 ruling by U.S. Bankruptcy Judge James Peck, who oversaw Lehman's bankruptcy. Other parts of that ruling were affirmed.

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