It's two months into Lehman Brothers Holdings Inc.'s historic
bankruptcy, and hundreds of creditors are still complaining about the
unprecedented lack of transparency in the case. Since the outset, asset
sales have been rushed through the bankruptcy court with little or no
notice, and creditors are still trying to get to the bottom of a series
of cash sweeps among dozens of Lehman's affiliates immediately before
and after the 3 a.m. filing on Sept. 15. Some creditors say they don't
even know where their money is and where to pursue a claim.
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But one creditor, at least, has only itself to blame for money lost
within Lehman's black hole. Deutsche Bank AG has sued Lehman in an
attempt to recover $72.5 million that it accidentally transferred to
Lehman more than a week after the bankruptcy filing.
In the suit, filed on Tuesday with the U.S. Bankruptcy Court for the
Southern District of New York in Manhattan, Deutsche said it meant to
transfer the money to Bank of America NA, but due to a "clerical
error," the funds ended up at Lehman.
Lehman has refused to return the money, according to the complaint,
because Deutsche owes Lehman and its affiliates at least $290 million.
- John Blakeley
Comments
ANYONE knows where can I get info. about Lehman B. 2007 deals and state of things? also, where or whom I should contact to add my name to a class action suit?