Select a page

Banking News

Lehman Brothers plan comeback

Lehman Brothers plan comeback

(17 March 2010 – USA) Lehman Brothers Holdings Inc has set the stage for a comeback, filing a reorganisation plan with the US bankruptcy court. The firm is looking to bring to an end the largest bankruptcy case in United States history by proposing, to the Manhattan court, to create an asset management business called LAMCO.

The failed company is hoping to gain approval to specialise in the management of Lehman’s commercial real estate, mortgages, principal investments, private equity, corporate debt and derivatives assets.

The Economic Times reported, that a spokesperson for the firm said that LAMCO would 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.
East & Partners's avatar

Comment on this article

 

Your comments will not be published. Required fields are marked *

 

Please enter the word you see in the image below:


Subscribe

Subscribe to our mailing list

Sign up now to keep up-to-date with the latest
market news and insights in B2B banking.

* indicates required

For more information please read our Terms and Conditions and Privacy Statements.