Lehman lawyers paid as hopes rise of UK deal
Hopes are rising that some jobs in Lehman Brothers' 50-strong in-house legal team can be saved as some legal staff were today told that they would be paid until the end of the month. The move contradicts earlier expectations that the entire UK legal team would lose their jobs in the wake of the bank's shock insolvency and comes as Barclays today (17 September) sealed a £1bn deal to acquire a sizeable chunk of Lehman's investment bank and capital markets business on Wall Street.The Barclays deal has raised expectations that the bank would be interested in taking on some of Lehman's UK business, including its legal team. As revealed on Tuesday (16 September) by legalweek.com, Clifford Chance is advising Barclays on the deal.
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