Lehman Brothers' lawyers at Jones Day have filed a motion asking a judge to modify the order approving last September's sale of Lehman's crown-jewel investment arm to Barclays. Jones Day argues the judge OK'd the deal based on "an inaccurate record due to mistake, inadvertence, or misrepresentations to the court." At the time he approved the asset sale, Jones Day's team asserts, the judge was not told that certain Lehman executives brokered a behind-the-scenes discount of several billion dollars for Barclays.
Jones Day: Lehman Judge OK'd Barclays Sale Based on 'Inaccurate Record'
The American Lawyer
September 17, 2009