Lehman Brothers Holdings Inc. plans to sell off tote bags, umbrellas, stress balls, Tiffany paperweights and other knickknacks to pay off creditors.
The firm, which was acquired by Barclays plc, still has about $200 billion in unsecured liabilities left to pay, chief executive officer Bryan Marsal told
Bloomberg.
Barclays acquired all of the novelty items as part of its acquisition. However, attorneys for Lehman and Barclays have been arguing over the items. A hearing over the trinkets' ownership is scheduled for April 8, according to the Bloomberg report.
"Items in storage include: 1,630 green canvas duffle bags with Lehman ribbon, 353 green compact golf umbrellas, 75 Waterford Marquis Treviso crystal clocks, 682 white Lehman coffee mugs, 130 Swiss Army pens, an English beechwood-lined sterling silver box from 1902, 200 Lehman conference pens, 12 pairs of Links of London cufflinks, 24 Screwpull wine openers inscribed 'LB,' 24 Titleist PRO VI golf balls inscribed 'LB,' 30 girl Teddy Bears, 18 large, ivory womens' F&G stretch snap shirts and one Tiffany shooting star."
Under the agreement, Lehman will repay Barclays $33,880 for warehouse costs.
The firm may hire a liquidator to move the logo goods from Barclays and sell the items on eBay.
- Maria Woehr
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