IN RE LEHMAN BROTHERS HOLDINGS INC.

Nos. 08-13555 (JMP), 08-01420 (JMP) SIPA.

445 B.R. 143 (2011)

In re LEHMAN BROTHERS HOLDINGS INC., et al., Debtors. In re Lehman Brothers Inc., Debtor.

United States Bankruptcy Court, S.D. New York.

February 22, 2011.


Attorney(s) appearing for the Case

Jones Day, Robert W. Gaffey, Esq. , Jayant W. Tambe, Esq. , William J. Hine, Esq. , Tracy V. Schaffer, Esq. , New York, NY, Attorneys for Lehman Brothers Holdings Inc., et al.

Quinn Emanuel Urquhart & Sullivan LLP, Susheel Kirpalani, Esq. , James C. Tecce, Esq. , Eric M. Kay, Esq. , Robert K. Dakis, Esq. , New York, NY, Special Counsel to the Official Committee of Unsecured Creditors of Lehman Brothers Holdings Inc., et al.

Hughes Hubbard & Reed LLP, William R. Maguire, Esq. , Seth D. Rothman, Esq. , Neil J. Oxford, Esq. , New York, NY, John F. Wood, Esq. , Washington, DC, Attorneys for James W. Giddens, as Trustee for the SIPA Liquidation of Lehman Brothers Inc.

Boies, Schiller & Flexner LLP, Jonathan D. Schiller, Esq. , Jack G. Stern, Esq. , New York, NY, Hamish P.M. Hume, Esq. , Washington, DC, David Boies, Esq. , Armonk, NY, Attorneys for Barclays Capital Inc.

U.S. Securities and Exchange Commission, Jacob H. Stillman , Solicitor, Katharine B. Gresham , Assistant General Counsel, Mark Pennington , Assistant General Counsel, Dimple Gupta , Attorney, Washington, D.C., Alistaire Bambach, Esq. , Patricia Schrage, Esq. , New York, NY, Attorneys for the U.S. Securities and Exchange Commission.

Securities Investor Protection Corporation, Josephine Wang , General Counsel, Kenneth J. Caputo , Senior Associate General Counsel, Washington, D.C., Attorneys for the Securities Investor Protection Corporation.


OPINION ON MOTIONS SEEKING MODIFICATION OF THE SALE ORDER PURSUANT TO RULE 60(B), THE TRUSTEE'S MOTION FOR RELIEF UNDER THE SIPA SALE ORDER, BARCLAYS' CROSS-MOTION TO ENFORCE THE SALE ORDERS AND ADJUDICATION OF RELATED ADVERSARY PROCEEDINGS

JAMES M. PECK, Bankruptcy Judge.

I. Introduction

A. Overview of Opinion

These matters arise out of the hurried, at times harried and now challenged sale of...

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