We’ve spent a lot of time dissecting Bank of America’s decision to partially waive attorney-client privilege under pressure from federal authorities investigating the bank’s frenzied merger with Merrill Lynch. But might there be another privilege issue brewing in the Lehman Brothers bankruptcy case?
It appears there may be: Weil, Gotshal & Manges, Lehman’s lead bankruptcy counsel, is in the process of turning over documents related to the controversial sale of some of Lehman’s prime assets to Barclays in the days after Lehman’s Sept. 15, 2008, bankruptcy filing. Many of those documents were formerly protected by attorney-client privilege, though it is unclear whether any of them will ever make it to the public eye, according to a source familiar with the matter.
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