Altria, Transocean, Morgan Keegan, Tata, Icahn in Court News
Barclays Plc (BARC) , after defeating an $11 billion lawsuit by Lehman Brothers Holdings Inc., seeks to dismiss the defunct firm’s remaining claim for $500 million in allegedly unpaid bonuses.
Lehman asked U.S. Bankruptcy Judge James Peck in May to order the U.K. bank to pay the rest of the $2 billion in bonuses it agreed to when it bought Lehman’s North American business in 2008. Barclays, which contended the $2 billion was an estimate of both bonuses and severance payments, said it paid everything assented to in the purchase agreement, according to a court filing yesterday.
The bonuses were due to Lehman employees whom Barclays took on with the purchase, the former investment bank said. The annual bonuses for the 2008 fiscal year should have paid in full by March 15, 2009, Lehman said in a May filing. Instead, the employees received $1.5 billion, it said.
According to Barclays, its obligation was to pay 100 percent of “bonus pool amounts accrued” by Lehman employees it took on with the purchase for the year 2008. Lehman said in court last year that the amount accrued and payable was from $700 million to $1.3 billion, or less than the $1.5 billion it now complains was insufficient, Barclays said in the filing.
“Thus, LBHI has admitted that Barclays paid bonuses in an amount that exceeded the amount required” by the sale contract, it said.
Kimberly Macleod , a Lehman spokeswoman, didn’t return a voice-mail message seeking comment after regular business hours yesterday.
The main case is In re Lehman Brothers Holdings Inc. (LEHMQ) , 08-13555, U.S. Bankruptcy Court, Southern District of New York (Manhattan). Lehman’s lawsuit against Barclays is Lehman v. Barclays, 09-01731, U.S. Bankruptcy Court, Southern District of New York (Manhattan).
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Costco Women’s Bias Suit May Be Imperiled by Wal-Mart Decision
Costco Wholesale Corp. may be able to block women accusing it of gender bias from suing as a group because of the U.S. Supreme Court ’s decision in a discrimination suit against Wal- Mart Stores Inc., Bloomberg News’ Margaret Cronin Fisk and Karen Gullo report.
The women sued Costco in 2004, accusing the largest U.S. warehouse-club chain of limiting promotions of female employees to assistant general manager and general manager by failing to post such job openings. They won the right to sue as a group in a class action in 2007. Costco’s appeal of that order was put on hold while the Supreme Court considered Dukes v. Wal-Mart.
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Two advisers who worked for the rig company's Norway unit are also being charged with tax evasion, the government said. The charges relate to events from 2000 to 2002 regarding tax dispositions in connection with the sale in 1997 and 2001 of 12 rigs by

By Telegraph staff and agencies But he has assured McCoist he has no plans to interfere with his duties as first-team manager as both men prepare to work together for the first time. Smith was confirmed in his new role at the weekend and,
Two-thirds of the publicly listed companies in Italy do not have a single female director, GovernanceMetrics reports, while one-third of companies in Europe do not have any women on their boards even though Norway, France and Spain have all adopted
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Kateryna is Ukrainian and wants an au pair job in the following countries: Canada Norway Sweden: Plea...
Kateryna is Ukrainian and wants an au pair job in the following countries: Canada Norway Sweden: Plea...
Kateryna is Ukrainian and wants an au pair job in the following countries: Canada Norway Sweden: Plea...
Kateryna is Ukrainian and wants an au pair job in the following countries: Canada Norway Sweden: Plea...
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