Lehman's London Office: Give Us Our Money Back!

While Lehman’s US operations recover from last week’s bankruptcy filing, the London office is still angry about the firm secretly taking $8 billion from their operations and are demanding it back.

WSJ: Even as the Barclays sale was approved Saturday, more Lehman clients, employees and others have objected, claiming they are owed money or assets..

Lehman moved more than $8 billion between Lehman’s European headquarters in London and New York, where Lehman collects money from its global units and then disperses it daily.

On the Friday before Lehman filed for bankruptcy, Lehman’s London office was surprised to find that billions of dollars it expected in its accounts weren’t there, according to a person familiar with the situation. Lehman’s London insolvency administrator PricewaterhouseCoopers is seeking to have it repaid.

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