A Lehman Brothers lawyer told a judge on Thursday that the company is emerging from the "chaos" that characterized its bankruptcy filing and the weeks immediately following it.
In the fast-moving case, the judge also gave his preliminary backing of the sale of Lehman's Neuberger Berman wealth management business by approving the bid procedures for the deal. It was the last major unit to be sold off in Lehman's liquidation.
Lehman rushed into court protection on Sept. 15 after buyout negotiations failed with Bank of America Corp. and Barclays Capital and the government failed to offer a bailout. Barclays ended up buying key Lehman units for about …
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