The trustee for Lehman Brothers Holdings Inc's U.S. brokerage is entitled to $4 billion of disputed margin collateral assets in its legal fight with Barclays Plc
U.S. Judge James Peck issued the ruling from the bench at a court hearing in Lehman's long-running dispute with Barclays, which bought much of Lehman's
In February, the judge ruled that Lehman's hurried sale to Barclays was fair, but he also said that Barclays was not entitled to roughly $4 billion in margin collateral that Lehman had posted to cover outstanding derivatives trades.
A Barclays spokesman, Michael O'Looney, said after Monday's court hearing that the bank plans to appeal the judge's February ruling.
(Reporting by Jeff Roberts; Writing by Martha Graybow; Editing by Steve Orlofsky)
(Corrects to say judge rules for Lehman U.S. brokerage arm, not for Lehman Brothers Holdings Inc, paragraph 1)