I believe that with all of the attention that these cases are getting, that Lehman's will be made, at least partially, whole again. Everyone knows exactly what happened, vultures circled Lehman's corpse and started feeding, and now that they didn't crumble to dust like the vultures expected, those giant corporations are being held accountable. It's just a matter of time. Right now we're seeing blogs and internet news articles, in the next couple of months we'll start seeing it broadcast all over CNN and FOX. These cases aren't going away. This paragraph is my favorite....
That brings us to today. The creditors committee in the Lehman case (represented by Quinn Emanuel Urquhart Oliver & Hedges) filed a motion under the terms of the Hague Convention seeking permission to ask a U.K. court to require that two U.K.-based entities turn over documents related to the Barclays deal. The entities? They're biggies--the Financial Services Authority, the U.K.'s version of the Securities and Exchange Commission
, and PricewaterhouseCoopers International, the mega-firm that served as the auditor for Barclays in its deal talks with Lehman, according to court records. (You can download today's motion below.)
I know these are just motions for discovery right now, but if Lehman's gets the documents from the Financial Services Authority and PWC int., I'm sure they would show that Barclay's was getting more than they bargained for.
I think the surf is starting to get a little rough, the storm is just getting started.
