Lehman Preferred Series "J" Preferred (fka LEHJQ)

[xristosx]

great stuff..my favorite part

LAMCO will work in the best interests of all creditors, according to a separate affidavit by Bryan Marsal, chief restructuring officer for the Debtor. Specifically, the creation of LAMCO will help in employee retention efforts, especially if the business is able to attract third party business, Marsal said.
While LAMCO would manage assets from the estate, the spinoff would not actually take possession of them and ultimate decision making authority would remain with respective debtors, the filing said.
Like LBHI, LAMCO would need court or creditors committee approval for all investment decision. The spinoff’s asset management agreement would not prejudice the debtors as services will be provided on a cost basis, the filing stated. LAMCO will not make a profit on assets under management and the agreement would replicate the current cost allocation among LBHI and its subsidiaries