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Judge Rules That Barclays May Recover Lehman-Linked Assets

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Barclays Plc is entitled to recover roughly $1.8 billion of disputed assets and interest related to Lehman Brothers Holdings Inc's bankruptcy, U.S. District Judge Katherine Forrest said yesterday, reversing a decision by a federal bankruptcy judge, Reuters reported. Yesterday's decision by Judge Forrest is a setback for James Giddens, the trustee of Lehman's brokerage unit Lehman Brothers Inc., because it may reduce the amounts available for creditors. Judge Forrest also said Giddens is not entitled to recover billions of dollars of other assets. She rejected Barclays' claims for roughly $1.3 billion of additional assets, including about $769 million in customer accounts.