Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Barclays Buys $100 Million in Lehman Claims From Fir Tree

May 13 (Bloomberg) -- 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).

To contact the reporter on this story: Linda Sandler in New York at lsandler@bloomberg.net.

To contact the editor responsible for this story: David E. Rovella at drovella@bloomberg.net.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.