PR Newswire | 69 days 21 hours 31 minutes ago
Statement From James W. Giddens Under the Securities Investor Protection Act
NEW YORK, Sept. 15 /PRNewswire/ -- Statement from James W. Giddens, Trustee for the Liquidation of Lehman Brothers Inc. under the Securities Investor Protection Act, on Filing of 60B Motion in U.S. Bankruptcy Court:
"I, as the Trustee, continue to meet my principal duty under the U.S. Securities Investor Protection Act to return property to public customers and to maximize assets available for return while being fair to the rights of other parties.
"I disagree with the claims of Barclays Capital Inc. to billions of dollars in additional assets that are customer property and not, in my view, authorized by the sale of Lehman Brothers Inc. to Barclays, which was approved by the Bankruptcy Court on September 19, 2008. The transfer of these assets to Barclays would create an unfair windfall for Barclays at the expense of public customers.
"I am seeking to protect customer property and asking the Court to reject and grant relief from Barclays' claims based on the documents and disclosures made to the Court when the order for the sale of Lehman Brothers Inc. was approved."
SOURCE James W. Giddens, Trustee for the Liquidation of Lehman Brothers Inc.
CONTACT: Kent Jarrell, +1-202-230-1833, for James W. Giddens, Trustee for
the Liquidation of Lehman Brothers Inc.
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