Barclays Plc bought about $100 million in claims on bankrupt Lehman Brothers Holdings Inc. from Fir Tree Value Master Fund LP and a related entity, according to court filings. The purchase price wasn’t disclosed.
The claims consist of Lehman program securities, mostly denominated in Eurodollars, according to the filings yesterday in U.S. Bankruptcy Court in Manhattan. New York-based Fir Tree’s value fund owned about $290 million in Lehman claims and a second Fir Tree fund owned $55 million, according to the filings.
Claims on Lehman, which has been trying in court to recover an alleged $11 billion “windfall” from Barclays over its 2008 purchase of the investment bank’s brokerage unit, trade almost daily among banks and short-term or long-term debt investors at discounts from face value.
The case is In re Lehman Brothers Holdings Inc., 08-13555, U.S. Bankruptcy Court, Southern District of New York (Manhattan).