Lehman Brothers Holdings Inc. (fka LEHMQ)

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Lehman Names Marsal As Chief Restructuring Officer >LEHMQLast update: 9/22/2008 6:11:38 PMDOW JONES NEWSWIRES

Bankrupt Lehman Brothers Holdings Inc. (LEHMQ) on Monday named Bryan Marsal chief restructuring officer and will pay him $850 an hour for his services. Marsal, 57, is the co-chief executive of Alvarez & Marsal North America LLC, a management consulting firm, according to a Lehman filing with the Securities and Exchange Commission. Lehman will pay additional restructuring personnel hourly rates from $175 to $850 an hour for their services, the filing said. Lehman will pay Marsal's firm a retainer fee of $2.5 million to be credited against amounts due. Marsal has assisted restructuring efforts at HealthSouth Corp. (HLS), a healthcare services provider, and accounting firm Arthur Andersen LLP, New York-based Lehman said. Lehman also said in the filing that the Federal Trade Commission granted early termination of the waiting period under under antitrust law for its sale of assets to Barclays PLC (BCS).

-By David J. Reynolds; Dow Jones Newswires; 202-862-1342; [e-mail] Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=ALzPELgYWIxw1xSbTuiWsg%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones NewswiresSeptember 22, 2008 18:11 ET (22:11 GMT)