The bankrupt U.S. investment bank Lehman Brothers Holdings made new accusations against Barclays Capital on Thursday, saying the British investment bank has benefited by 13 billion “emergency” profit from the transaction for the purchase of Lehman brokerage unit of the United States in September 2008. This week it became clear that Lehman Brothers is preparing to emerge from bankruptcy procedure and to resume its activities in asset management. U.S. banks Citigroup and JPMorgan were charged last week that helped the bankruptcy of Lehman Brothers. Lehman has provided the court in Manhattan, dealing with the case in its bankruptcy documents show that Barclays was actually earned 13 billion dollars in acquiring the unit for managing the assets of Lehman. Barclays announced on accounting profit from the transaction is EUR 4.2 billion, Reuters reported. Lehman Brothers filed for bankruptcy protection on September 15, 2008, after the mortgage crisis and the marketing of derivative financial instruments have led to its bankruptcy, which has become the largest in U.S. history. A week later iconic brokerage unit of Lehman was sold to Barclays for 1.85 billion dollars. According to lawyers of Lehman Brothers deal was hastily organized, and this allows Barclays to obtain the investment portfolio of its U.S. rival with a large discount from its fair value. Are challenged by Barclays of Lehman allegations as unfounded. Lehman, which results in legal battle against Barclays for months, claims that the deal presented to the court, not one that truly is concluded. From U.S. Bank believes that employees of Lehman, which have been offered a job in the unit, acquired by Barclays, it is arranged to receive a discount of 5 billion investment portfolios of Lehman, which includes securities to 70 billion dollars.
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The British bank Barclays lay a pleasant surprise with its report for 2009, which was released today. He showed that the financial institution has made a profit of 11.6 billion liras in the year after the 2008 year was registered a positive result of 6,1 billion pounds. With a major contribution to the strong performance has Investment Banking division where he will be awarded significant bonuses. Employees in this unit will receive an average of 191 thousand pounds last year, transmit CNBC. Nearly half of the profit – 6,3 billion liras – accounted for the sale of the division of asset management Barclays Global Investors (BGI), it is clear from the report. Preliminary expectations of analysts polled by Reuters were for a profit of 11.2 billion pounds. Profit from operating activities, which does not include the sale of BGI, the impressive amount of 5.6 billion pounds. For comparison, in 2008 it amounted to 1,6 billion pounds. In the investment banking division Barclays Capital e achieved profit growth of 89 percent to 2,5 billion pounds. With a strong commitment to it’s acquisition of the investment business of Lehman Brothers in the United States, and the growth of positions in Europe and the United States.
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