<div><h1> LEHMAN'S LEGAL TANGLE </h1><p>It's beginning to look as if the Lehman Brothers bankruptcy proceedings could be hopelessly snarled for years. When the firm went under last September, it listed $613 billion in liabilities--the biggest corporate bankruptcy ever. It also had more than a million open derivatives contracts spread among offices all over the world, with each office governed by local bankruptcy laws. Now a feud is brewing over whether all the entities will work together or adopt an every-office-for-itself approach. Earlier in April, administrators for many of the worldwide branches signed a protocol for information-sharing that should help the firm unwind efficiently. But the London office, which served as a clearinghouse for European operations, is so far refusing to go along--and that could throw a giant wrench in the works. (Crain's New York Business) </p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=49683385&bid=informcom" /></div><div id="copyright"><div>

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