Lehman Brothers Schedules Bankruptcy Court Hearing

Lehman Brothers has scheduled a hearing in its bankruptcy case that could lead to a judge's approval of an asset sale.

The investment bank, which filed the biggest American bankruptcy case today, has on its agenda for the meeting this afternoon a motion that seek a judge's approval to sell certain assets.

The Wall Street Journal was reporting on its Web site that Lehman was close to reaching a deal to sell its U.S. broker-dealer unit to Barclays.

The hearing was scheduled to be held at the U.S. Bankruptcy Court in the Southern District of New York, before Judge James Peck.