Lehman and Barclays battle on

Lehman Brothers’ defunct brokerage told a US appeals court yesterday it was entitled to billions of dollars in cash it says was wrongly included in its 2008 sale to Barclays. The arguments in New York renewed a murky, years-old court battle with huge implications for the brokerage's creditors, including Lehman affiliates and hedge funds. The brokerage contends the $250m takeover deal did not include the cash assets.