Lehman Brothers Financial SA (LEHNQ)

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The decision splits the Lehman estate into two pieces, one to manage its illiquid assets and another to handle the work relating to its 2008 bankruptcy.

Lamco’s role will be to manage and wind down Lehman’s long-term distressed and illiquid assets, including commercial real estate, residential mortgages, principal investments, corporate debt and derivatives.

Lehman will remain in existence to handle claims arising from its Chapter 11 filing. Lehman would fund Lamco, and the several holding companies associated therewith, with a total of $20 million to start.