Reuters Objects To Lehman Services-Sharing Plan

Thompson Reuters PLC has asked a bankruptcy court to require Lehman Brothers Holdings Inc. to disclose and compensate Reuters for any of the information company's services and intellectual property that might be included in a transition services agreement between Lehman and its European branches, Bankruptcy Law360 reported today. The limited objection takes issue with Lehman's Nov. 13 motion seeking approval of a transition services agreement that would re-establish a cross-Atlantic trade of information among Lehman, Lehman Europe and Neuberger Berman Holdings LLC. The objection points to several software, technology and intellectual property assets generally referenced in Lehman's Nov. 13 motion and asks that the debtors "clarify and identify the specific third-party vendors whose rights may be implicated, and the products and services which may be shared or exchanged" under the agreement. Reuters also asks that Lehman be blocked from including any of the information company's products in the transition services agreement without first obtaining Reuters' consent, which would include "appropriate payment terms and indemnities," according to the objection. Read more. (Subscription required.)