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Lehman goes to court to recoup US$2b from old derivatives partner Citigroup

Monday, May 1, 2017 - 05:50

The trial opens a rare window into the frenzied weekend before Lehman's bankruptcy filing on Sept 15, 2008. Lehman alleges that Citigroup created "phantom costs" in a claim.

New York

ALMOST a decade after the global financial crisis, the fate of another US$2 billion from the wreckage of Lehman Brothers Holdings Inc is about to be determined.

The failed New York investment bank is seeking to recoup the cash from one of its old derivatives trading

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