Saturday, September 20, 2008

Judge approves $1.3bn Lehman deal

Judge approves $1.3bn Lehman deal

September 20th, 2008 admin Posted in Business No Comments »

http://images.businessweek.com/ss/06/09/bestplacestowork/image/22.jpg A New York bankruptcy judge has backed a $1.3bn (£700m) plan for Barclays to buy the core business of collapsed US investment bank Lehman Brothers.

The deal gives the UK bank ownership of Lehman’s Manhattan skyscraper - worth nearly $1bn - as well as responsibility for some 9,000 former staff.

Lawyers for what was the fourth biggest US investment bank said they were confident many jobs would be safe.

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