Lehman Brothers Bankhaus to submit argument in LBIE client money case

By Caroline Salls

Pittsburgh, July 22 - Lehman Brothers International Europe's joint administrators said Lehman Brothers Bankhaus AG has been ordered to submit a written argument by Aug. 31 regarding the administrators' request that Lehman Brothers Bankhaus return $1 billion plus interest of client monies to LBIE, according to a news release.

The joint administrators said the client monies in question were deposited with Lehman Brothers Bankhaus before LBIE's administration.

A second oral hearing is scheduled for Oct. 7 in the Frankfurt am Main Regional Court.

New York-based Lehman Brothers Holdings Inc. was the fourth-largest investment bank in the United States. The company filed for bankruptcy on Sept. 15, 2008 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 08-13555.

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