Wachovia sued Citigroup in Manhattan Federal Court today (Monday), insisting that its sale to Wells Fargo, announced Oct. 3, is not prohibited by Wachovia’s previous plan to sell a part of itself to Citigroup. That plan was announced on Sept. 29. Wachovia is represented by David Boies with Boies Schiller.
Lehman Brothers owes it $936 million in securities used as collateral in credit default swaps, the Federal Home Loan Bank of Atlanta claims in New York County Court. In similar claims, Goldman Sachs says Lehman owes it more than $15 million, and Fir Tree Master Value Fund wants $12 million.