Barring an unlikely U.S. Supreme Court reversal, lawyers at Boies, Schiller & Flexner can finally add the roller-coaster bankruptcy litigation over Barclays plc’s fire sale acquisition of Lehman Brothers’ brokerage unit to the firm’s win column.
In an order issued on Tuesday, the U.S. Court of Appeals for the Second Circuit refused to reconsider its Aug. 5 ruling that the liquidation trust for Lehman Brothers Inc. can’t claw back $7 billion in assets from Barclays. The court didn’t give its reasoning for Tuesday’s decision, which caps six years of litigation involving Barclays, the liquidation trustee and various Lehman creditors.
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