Lehman Brothers Schedules Bankruptcy Court Hearing

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The New York Sun

Lehman Brothers has scheduled a hearing in its bankruptcy case that could lead to a judge’s approval of an asset sale.

The investment bank, which filed the biggest American bankruptcy case today, has on its agenda for the meeting this afternoon a motion that seek a judge’s approval to sell certain assets.

The Wall Street Journal was reporting on its Web site that Lehman was close to reaching a deal to sell its U.S. broker-dealer unit to Barclays.

The hearing was scheduled to be held at the U.S. Bankruptcy Court in the Southern District of New York, before Judge James Peck.

The New York Sun

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