Barclays is considering suing to recover more than $400 million lost in a Bear Stearns hedge fund that placed big bets on subprime residential mortgage-backed securities, according to the Wall Street Journal. Barclays had been an investor in Bear Stearns Asset Management's High-Grade Structured Credit Strategies Enhanced Leverage Fund, which is now worth nothing. Barclays also extended one loan for $200 million that has since been paid back, and offered to extend another loan for $250 million, which was never extended. In addition to its option to force litigation, Barclays may negotiate a settlement with Bear.
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|Rank||Lead Manager/Arranger||Share % by Volume|
|2||Bank of America Merrill Lynch (BAML)||10.66|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|1||SG Corporate & Investment Banking||1,260.06||2||126,006,164,037.19%|
|3||Wells Fargo Securities||430.57||1||43,057,020,785.00%|
|4||Meritz Financial Group Inc||192.86||1||19,286,162,593.99%|