views

Barclays' Lehman deal probed

A US bankruptcy judge has ruled that Lehman Brothers Holdings has the right to investigate the details of the sale of its broker-dealer unit to Barclays, to determine whether the UK bank got “too good of a deal”. Barclays snapped up the brokerage last year after Lehman filed for bankruptcy, but the company’s lawyers now want to establish whether Barclays paid less than it claimed. One of the key issues will be whether Barclays paid former Lehman staff the $2bn ($1.2bn) in bonuses it promised them, with Lehman lawyers arguing that former employees were paid just $700m.