US investment bank Lehman Brothers Holdings has filed its reorganization plan with the US bankruptcy court in Manhattan, proposing a way to end the largest US bankruptcy case in history.
Under the Chapter 11 reorganization plan proposed by the company, Lehman seeks authority to create an asset manager business called LAMCO that will specialize in management of its commercial real estate, mortgages, principal investments, private equity, corporate debt and derivatives assets.
Lehman says LAMCO will provide management services to Lehman, administer its assets and offer long-term employment opportunities for the hundreds of Lehman employees working to liquidate the former investment bank's estate.
Advertisement
