Lehman’s $83 Million Trader Taped Conversations

A former Lehman Brothers star trader secretly recorded several conversations that he says prove Lehman owes him more than $83 million in bonuses for his work done mostly in 2008, even though he received a similar amount when Barclays PLC bought Lehman, The Wall Street Journal reports.

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New Jersey has tapped former bankruptcy judge Donald Steckroth to mediate talks between struggling Atlantic City and groups expected to play a major part in its looming restructuring, including casino operators and police and firefighters’ unions, according to the Journal

A federal judge denied Lehman Brothers Inc.’s bid to carve out $1.3 billion from an earlier court decision that awarded $4 billion in disputed assets to Barclays PLC stemming from the U.K. bank’s purchase of Lehman’s brokerage business, WSJ reports.
General Motors Co. continued its winning streak in North America amid sizzling U.S. demand for trucks and sport-utility vehicles, but momentum at home was dented elsewhere by the strong dollar and dismal conditions in South America, writes WSJ.

Bloomberg’s Bill Rochelle dives deep into the bankruptcy code—namely Section 1129(a)(10)—to look at why Bill Gates’s Optim’s Energy may have a problem with its bankruptcy-exit plan.

Distributions in the bankruptcy case of bitcoin trading platform Mt. Gox could be made in the virtual currency, reports Reuters.

LSU and many other public colleges in Louisiana might be forced to file for financial exigency, essentially academic bankruptcy, if state higher education funding doesn’t soon take a turn for the better, the Times-Picayune reports.

Former Detroit emergency manager Kevyn Orr said today that he expects to return to his former law firm, Jones Day in the coming weeks, the Detroit Free Press reports.

Write to Patrick Fitzgerald at [email protected]. Follow him on Twitter at @PatFitzgerald23