It’s not quite Old Carco, but bankruptcy lawyers for Lehman Brothers have filed a reorganization plan that calls for the creation of Lamco, an asset-management subsidiary carved out of Lehman that will help put an end to the largest Chapter 11 case in U.S. history.
According to the 93-page plan, filed Monday by Lehman’s lead bankruptcy lawyers at Weil, Gotshal & Manges, Lamco will manage real estate, private equity and derivatives assets held by the defunct investment bank in order to sell them off at a premium to generate proceeds for Lehman creditors.
