Cementing a victory for Barclays plc and its lawyers at Boies, Schiller & Flexner, the U.S. Supreme Court on Monday cleared the way for Barclays to keep some $4 billion in a long-running asset dispute stemming from the bank’s frenzied 2008 buyout of Lehman Brothers’ brokerage business.
The high court rejected a petition lodged in December by Bancroft’s Paul Clement on behalf of Lehman’s liquidation trustee, James Giddens of Hughes Hubbard & Reed. Giddens had hoped to reverse a ruling by the U.S. Court of Appeals for the Second Circuit, which sided in August with Barclays’ claim to billions in assets in connection with the Lehman acquisition.
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