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- Barclays took more than it should have
Barclays took more than it should have
- By ILS corp
- Published 09/24/2009
- ILSTV Stories
- Unrated
Lehman made its claim in a court filing on September 15, the one-year anniversary of its chaotic bankruptcy filing. The court approved the sale of its U.S. banking business to Barclays less than a week after it filed.
Now Lehman wants a judge to force Barclays to give back some of the money it took as part of the deal, including $5 billion it said was given as extra collateral. Lehman said the extra value was not disclosed to the court.
Lehman said Barclays took the $5 billion as well as another $2.3 billion in margin deposits on its Options Clearing Corp. accounts, and about $2.7 billion in other assets added before the court's approval of the sale. It said Barclays took on about $1.7 billion in liabilities.

