Judge approves Lehman plan to form asset-management firm

Bankruptcy Judge James Peck approved a plan by the estate of Lehman Bros. to establish an asset-management company, Lamco. The firm, which would manage the company's remaining derivative contracts and investments, would be a new beginning for Lehman. The judge agreed with Lehman that by holding assets for longer than normal, it could ultimately pay more to its creditors.

View Full Article in:

Financial Times (tiered subscription model) · Bloomberg Businessweek

Published in Brief: