Exhibit 99.1

UNITED STATES BANKRUPTCY COURT

SOUTHERN DISTRICT OF NEW YORK

MONTHLY OPERATING REPORT

NOVEMBER 2010

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

SCHEDULE OF PROFESSIONAL FEE AND EXPENSE DISBURSEMENTS

THIS OPERATING STATEMENT MUST BE SIGNED BY A REPRESENTATIVE OF THE DEBTOR

The undersigned, having reviewed the attached report and being familiar with the Debtors’ financial affairs, verifies under penalty of perjury, that the information contained therein is complete, accurate and truthful to the best of my knowledge.

Indicate if this is an amended statement by checking here:        AMENDED STATEMENT  ¨

TABLE OF CONTENTS

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SCHEDULE OF DEBTORS

The following entities have filed for bankruptcy in the Southern District of New York:

The Chapter 11 case of Lehman Brothers Finance SA (Case No: 08-13887) has been dismissed.

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LEHMAN BROTHERS HOLDINGS INC. (“LBHI”) AND OTHER DEBTORS AND OTHER

CONTROLLED ENTITIES

BASIS OF PRESENTATION

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

NOVEMBER 1, 2010 TO NOVEMBER 30, 2010

The information and data included in this Monthly Operating Report (“MOR”) are derived from sources available to Lehman Brothers Holdings Inc. (“LBHI”) and its Controlled Entities (collectively, the “Company”). The term “Controlled Entities” refers to those entities that are directly or indirectly controlled by LBHI, including LAMCO LLC (“LAMCO”), and excludes, among other things, those entities that are under separate administrations in the United States or abroad, including Lehman Brothers Inc., which is the subject of proceedings under the Securities Investor Protection Act. LBHI and certain of its Controlled Entities have filed for protection under Chapter 11 of the Bankruptcy Code, and those entities are referred to herein as the “Debtors”. The Debtors’ Chapter 11 cases have been consolidated for procedural purposes only and are being jointly administered pursuant to Rule 1015(b) of the Federal Rules of Bankruptcy Procedure. The Debtors have prepared this MOR, as required by the Office of the United States Trustee, based on the information available to the Debtors at this time, but note that such information may be incomplete and may be materially deficient in certain respects. This MOR is not meant to be relied upon as a complete description of the Debtors, their business, condition (financial or otherwise), results of operations, prospects, assets or liabilities. The Debtors reserve all rights to revise this report.

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LEHMAN BROTHERS HOLDINGS INC. and Other Debtors and Other Controlled Entities

Schedule of Cash Receipts and Disbursements (a)

November 1, 2010 - November 30, 2010

Unaudited ($ in millions, foreign currencies reflected in USD equivalents)

Totals may not foot due to rounding.

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LEHMAN BROTHERS HOLDINGS INC. and Other Debtors and Other Controlled Entities

Schedule of Cash Receipts and Disbursements (a)

November 1, 2010 - November 30, 2010

(a) Includes cash receipts and disbursements for all Debtor Entities and Other Controlled Entities, globally. Activity in Corporate, Derivatives, Loans, Private Equity / Principal Investing and Real Estate reflects bank accounts that are managed and reconciled by Lehman’s U.S. and European operations. Activity in Asia and South America reflects bank accounts that are managed and reconciled by Lehman’s Asia and South American operations, respectively.

(b) Other Controlled Entities include Non-Debtor entities which are under the control of LBHI, except for Aurora Bank, Woodlands Commercial Bank, LBTC Transfer Inc. (f/k/a Lehman Brothers Trust Company N.A.) and Lehman Brothers Trust Company of Delaware, which are not reflected in this schedule.

(c) Beginning Cash and Investments was adjusted to reflect a $1 million increase for LB1 Group from Ending Cash and Investments on the October 2010 Schedule of Cash Receipts and Disbursements to reflect balances not previously reported.

(d) Beginning Cash and Investment balances include approximately $4 billion in co-mingled or segregated accounts associated with pledged assets, court ordered segregated accounts, funds administratively held by banks and other identified funds which may not belong to the Debtors or Other Controlled Entities. Beginning Cash and Investment balances exclude approximately $595 million of cash posted for hedging activity, prior to the recognition of any gains or losses.

(e) Reflects advances and the repayment of advances for the court approved repo facility with Aurora Bank.

(f) Reflects the repayment of payroll disbursements made on behalf of Woodlands Commercial Bank.

(g) Reflects the sale of art.

(h) Includes $18 million of interest income.

(i) Primarily reflects settlements with counterparties and includes the return of $26 million of collateral posted for hedging.

(j) Primarily reflects principal and interest from borrowers, of which a portion was distributed to syndicated loan participants (see footnote t).

(k) Primarily reflects redemptions, dividends, interest and/or proceeds from the sale of investments.

(l) Primarily reflects principal and interest received from real estate investments.

(m) Primarily reflects $42 million from the sale of non-performing loan portfolios.

(n) Compensation and Benefits includes fees paid to Alvarez & Marsal as interim management. A portion of the $15 million related to LBHI will be subject to future cost allocation to various Lehman legal entities.

(o) A portion of the $37 million will be subject to future cost allocation to various Lehman legal entities.

(p) Primarily reflects expenses related to occupancy, the Transition Services Agreement, taxes, insurance and infrastructure costs. A portion of the $17 million related to LBHI will be subject to future cost allocation to various Lehman legal entities.

(q) Reflects a post-closing receipt for the court-approved Bankhaus disbursement that occurred in February 2010.

(r) Reflects disbursements for the court-approved Aurora Bank and Woodlands Settlements.

(s) Primarily reflects $39 million of collateral posted for hedging and payments on live trades.

(t) Primarily reflects principal and interest distributed to syndicated loan participants.

(u) Primarily reflects capital calls.

(v) Primarily reflects payments made to preserve the value of Real Estate assets.

(w) Primarily reflects distributions of $101 million to affiliates that are under the control of foreign administrators related to intercompany claims.

(x) Reflects fluctuation in value of foreign currency bank accounts.

(y) Ending Cash and Investment balances include approximately $4.5 billion in co-mingled or segregated accounts. These amounts are preliminary and estimated as follows: Debtors - LCPI $2.8 billion, LBHI $889 million, LBSF $647 million, LBCS $44 million, LBCC $5 million, Lehman Scottish Finance $2 million; and Non-Debtors $86 million and are subject to adjustment. Ending Cash and Investment balances exclude approximately $568 million of cash posted as collateral for hedging activity, prior to the recognition of any gains or losses, broken down as follows: LBSF $508 million, LBFP $28 million, LBHI $20 million, LBCC $11 million and LBCS $1 million.

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LEHMAN BROTHERS HOLDINGS INC. (“LBHI”) AND OTHER DEBTORS AND OTHER

CONTROLLED ENTITIES

BASIS OF PRESENTATION

SCHEDULE OF PROFESSIONAL FEE AND EXPENSE DISBURSEMENTS

DATED FROM FILING DATE TO NOVEMBER 30, 2010

The information and data included in this Monthly Operating Report (“MOR”) are derived from sources available to Lehman Brothers Holdings Inc. (“LBHI”) and its Controlled Entities (collectively, the “Company”). The term “Controlled Entities” refers to those entities that are directly or indirectly controlled by LBHI, including LAMCO LLC (“LAMCO”), and excludes, among other things, those entities that are under separate administrations in the United States or abroad, including Lehman Brothers Inc., which is the subject of proceedings under the Securities Investor Protection Act. LBHI and certain of its Controlled Entities have filed for protection under Chapter 11 of the Bankruptcy Code, and those entities are referred to herein as the “Debtors”. The Debtors’ Chapter 11 cases have been consolidated for procedural purposes only and are being jointly administered pursuant to Rule 1015(b) of the Federal Rules of Bankruptcy Procedure. The Debtors have prepared this MOR, as required by the Office of the United States Trustee, based on the information available to the Debtors at this time, but note that such information may be incomplete and may be materially deficient in certain respects. This MOR is not meant to be relied upon as a complete description of the Debtors, their business, condition (financial or otherwise), results of operations, prospects, assets or liabilities. The Debtors reserve all rights to revise this report.

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LEHMAN BROTHERS HOLDINGS INC. and Other Debtors and Other Controlled Entities

Schedule of Professional Fee and Expense Disbursements (a)

November 2010

Unaudited ($ in thousands)