Lehman Bros. files for Ch. 11 bankruptcy protection
Lehman Brothers Holdings Inc. filed for Chapter 11 bankruptcy protection on Monday.
The New York-based bank has two office locations in Dallas — one on Crescent Court, another on St. Paul Street downtown.
Lehman (NYSE: LEH) did not elaborate on how many offices or employees will be impacted by the decision, but specified that its broker-dealer subsidiaries and other subsidiaries of LBHI are not included in the filing.
Subsidiaries Neuberger Berman LLC and Lehman Brothers Asset Management also are excluded from the bankruptcy filing and will move forward with business as usual no fax payday loan.
The company added, “Customers of Lehman Brothers, including customers of its wholly owned subsidiary, Neuberger Berman Holdings LLC, may continue to trade or take other actions with respect to their accounts.”
At the moment, Lehman is exploring the possible sale of its broker-dealer operations and is moving forward with discussions about the sale of its Investment Management Division to interested parties.