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CORRECTED-Barclays may recover Lehman-linked assets -ruling
June 5, 2012 / 8:02 PM / 5 years ago

CORRECTED-Barclays may recover Lehman-linked assets -ruling

(Deletes references to interest payments)

June 5 (Reuters) - Barclays Plc is entitled to recover roughly $ 1.5 billion of disputed assets r elated 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 .

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. (Reporting by Caroline Humer and Jonathan Stempel in New York; Editing by Gary Hill)

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