One of hundreds of lawyers who crammed into courtrooms Friday for a hearing on Lehman Brothers Holdings' effort to sell some of its big assets says the eight-and-a-half-hour session held a series of surprises. According to attorney Darryl S. Laddin, no appraiser testified in court about how much Lehman's assets were worth, nor was any appraisal filed with the court. And even more extraordinary to Laddin, the terms of Lehman's $1.5 billion sale of assets to Barclays kept changing throughout the evening.
Lehman Bankruptcy Hearing Held Surprises, According to Attorney Eyewitness
September 24, 2008