Under the Chapter 11 reorganization plan proposed by the company, Lehman sought authority to create an asset manager business called LAMCO that would specialize in management of Lehman's commercial real estate, mortgages, principal investments, private equity, corporate debt and derivatives assets.
Lehman said LAMCO would provide management services to Lehman, administer its assets and offer long-term employment opportunities for the hundreds of Lehman employees working to liquidate the former investment bank's estate.
Remember When: Lehman Brothers Was In A Position To Tell Korea Development Bank To Suck It?
Those were the days. Related: Korea Development Bank Ends Talks For Stake in Lehman (September 10, 2008) Earlier: "The Bros Always Wins"