LEHMAN BROTHERS HOLDINGS INC. PLAN TRUST - FORM 8-K - EX-99.1 - LEHMAN BROTHERS HOLDINGS INC. - MONTHLY OPERATING REPORT - May 23, 2011

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Exhibit 99.1                                

UNITED STATES BANKRUPTCY COURT

SOUTHERN DISTRICT OF NEW YORK

 

In re:

       Chapter 11 Case No.
Lehman Brothers Holdings Inc., et al.,       08-13555

Debtors.

      

MONTHLY OPERATING REPORT

APRIL 2011

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

SCHEDULE OF PROFESSIONAL FEE AND EXPENSE DISBURSEMENTS

 

DEBTORS’ ADDRESS:    LEHMAN BROTHERS HOLDINGS INC.
   c/o WILLIAM J. FOX
   1271 AVENUE OF THE AMERICAS
   35th FLOOR
   NEW YORK, NY 10020
DEBTORS’ ATTORNEYS:    WEIL, GOTSHAL & MANGES LLP
   c/o HARVEY R. MILLER
   767 FIFTH AVENUE
   NEW YORK, NY 10153
REPORT PREPARER:    LEHMAN BROTHERS HOLDINGS INC., A DEBTOR IN POSSESSION (IN THE SOUTHERN DISTRICT OF NEW YORK)

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.

 

    Lehman Brothers Holdings Inc.
Date: May 23, 2011   By:  

/s/ William J. Fox

    William J. Fox
    Executive Vice President

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

TABLE OF CONTENTS

 

Schedule of Debtors

      3   

Lehman Brothers Holdings Inc. (“LBHI”) and Other Debtors and Other Controlled Subsidiaries

   

Basis of Presentation — Schedule of Cash Receipts and Disbursements

      4   

Schedule of Cash Receipts and Disbursements

      5   

LBHI

   

Basis of Presentation – Schedule of Professional Fee and Expense Disbursements

      9   

Schedule of Professional Fee and Expense Disbursements

      10   

SCHEDULE OF DEBTORS

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

 

     

    Case No.    

    Date Filed  

Lead Debtor:

      

Lehman Brothers Holdings Inc. (“LBHI”)

    08-13555      9/15/2008   

Related Debtors:

      

LB 745 LLC

    08-13600      9/16/2008   

PAMI Statler Arms LLC(1)

    08-13664      9/23/2008   

Lehman Brothers Commodity Services Inc. (“LBCS”)

    08-13885      10/3/2008   

Lehman Brothers Special Financing Inc. (“LBSF”)

    08-13888      10/3/2008   

Lehman Brothers OTC Derivatives Inc. (“LOTC”)

    08-13893      10/3/2008   

Lehman Brothers Derivative Products Inc. (“LBDP”)

    08-13899      10/5/2008   

Lehman Commercial Paper Inc. (“LCPI”)

    08-13900      10/5/2008   

Lehman Brothers Commercial Corporation (“LBCC”)

    08-13901      10/5/2008   

Lehman Brothers Financial Products Inc. (“LBFP”)

    08-13902      10/5/2008   

Lehman Scottish Finance L.P.

    08-13904      10/5/2008   

CES Aviation LLC

    08-13905      10/5/2008   

CES Aviation V LLC

    08-13906      10/5/2008   

CES Aviation IX LLC

    08-13907      10/5/2008   

East Dover Limited

    08-13908      10/5/2008   

Luxembourg Residential Properties Loan Finance S.a.r.l

    09-10108      1/7/2009   

BNC Mortgage LLC

    09-10137      1/9/2009   

LB Rose Ranch LLC

    09-10560      2/9/2009   

Structured Asset Securities Corporation

    09-10558      2/9/2009   

LB 2080 Kalakaua Owners LLC

    09-12516      4/23/2009   

Merit LLC

    09-17331      12/14/2009   

LB Somerset LLC

    09-17503      12/22/2009   

LB Preferred Somerset LLC

    09-17505      12/22/2009   

 

 

(1) On May 26, 2009, a motion was filed on behalf of Lehman Brothers Holdings Inc. seeking entry of an order pursuant to Section 1112(b) of the Bankruptcy Code to dismiss the Chapter 11 Case of PAMI Statler Arms LLC, with a hearing to be held on June 24, 2009. On June 19, 2009, the motion was adjourned without a date for a continuation hearing.

The Chapter 11 cases of Fundo de Investimento Multimercado Credito Privado Navigator Investimento No Exterior (Case No: 08-13903) and Lehman Brothers Finance SA (Case No: 08-13887) have been dismissed.

 

3

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

CONTROLLED ENTITIES

BASIS OF PRESENTATION

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

APRIL 1, 2011 TO APRIL 30, 2011

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.

 

  1.

This MOR is not prepared in accordance with U.S. generally accepted accounting principles (GAAP). This MOR should be read in conjunction with the financial statements and accompanying notes in the Company’s reports that were filed with the United States Securities and Exchange Commission.

 

  2.

This MOR is not audited and will not be subject to audit or review by the Company’s external auditors at any time in the future.

 

  3.

The beginning and ending balances include cash in demand-deposit accounts (DDA), money-market funds (MMF), treasury bills and other investments.

 

  4.

Beginning and ending cash balances are based on preliminary closing numbers and are subject to adjustment.

 

  5.

Beginning and ending cash and investment balances exclude the following:

 

  •  

Cash posted as collateral for hedging activity;

  •  

Cash related to LBHI’s wholly-owned indirect subsidiaries Aurora Bank FSB, Woodlands Commercial Bank, Lehman Brothers Bancorp Inc., LBTC Transfer Inc. (formerly known as Lehman Brothers Trust Company N.A.) and Lehman Brothers Trust Company of Delaware;

  •  

Cash pledged on or prior to September 15, 2008 by the Company in connection with certain documents executed by the Company and Citigroup Inc. and HSBC Bank PLC, currently recorded at $2 billion and $241 million, respectively; and

  •  

$500 million which was seized by Bank of America (“BOA”) to offset derivatives claims against the Debtors. On November 16, 2010, the Bankruptcy Court ruled that BOA had no right to set-off these funds and must return the $500 million plus an estimated $95 million in interest to the Company.

 

  6.

Intercompany transfers between Lehman entities are listed as disbursements for the paying entity and receipts for the receiving entity.

 

4

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

Summary Schedule of Cash Receipts and Disbursements (a)

April 1, 2011 - April 30, 2011

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

 

00000000 00000000 00000000 00000000 00000000 00000000 00000000 00000000 00000000 00000000 00000000 00000000
          Debtor Entities     Other Controlled Entities (b)     Total Debtors
and Other
Controlled		  
          LBHI     LBSF     LCPI     Other     Total     LAMCO     LB1 Grp     PAMI     Other     Total     Entities  

Beginning Total Cash and Investments (4/1/11)

     (c)       $ 2,598        $ 8,951        $ 4,702        $ 3,347        $ 19,598        $ 46        $ 1,096        $ 1        $ 2,495        $ 3,638        $ 23,236    

Restricted Cash

     (d)        (1,473)        (667)        (1,815)        (51)        (4,006)        -         -         -         (82)        (82)        (4,088)   
                                                                                         

Beginning Free Cash and Investments

       1,125         8,284         2,887         3,296          15,591         46         1,096         1         2,413         3,556         19,148    
                                                                                         

Sources of Cash

                        

Derivatives

       -         63         -         30         93         -         -         -         -         -         93    

Loans

       113         -         475         -         588         -         -         -         -         -         588    

Private Equity / Principal Investing

       88         -         1         -         89         -         185         -         18         203         292    

Real Estate

       50         -         86         -         136         -         4         -         3         7         143    

Other

       16         94         334         17         460         -         -         -         -         -         460    

Asia

       -         -         -         -         -         -         -         -         21         21         21    

Inter-Company Transfers

       279         15         2         11         306         -         -         -         14         14         320    
                                                                                         

Total Sources of Cash

       546         172         897         58         1,672         -         189         -         56         245         1,917    
                                                                                         

Uses of Cash

                        

Non-Operating (Principally Preservation of Assets)

                        

Derivatives

       -         (47)        -         (11)        (58)        -         -         -         -         -         (58)   

Loans

       -         -         (205)        -         (205)        -         -         -         -         -         (205)   

Private Equity / Principal Investing

       (1)        -         (53)        -         (54)        -         (12)        -         -         (12)        (65)   

Real Estate

       (58)        -         (84)        -         (142)        -         -         -         -         -         (142)   

Other

       (969)        (71)        (335)        (1)        (1,376)        -         (2)        -         -         (2)        (1,377)   

Operating

       (34)        (1)        -         -         (35)        (12)        -         -         (1)        (13)        (48)   

Asia

       -         -         -         -         -         -         -         -         (7)        (7)        (7)   

Inter-Company Transfers

       (16)        (106)        (5)        (39)        (167)        -         (17)        -         (136)        (153)        (320)   
                                                                                         

Total Uses of Cash

       (1,078)        (225)        (682)        (51)        (2,036)        (12)        (30)        -         (144)        (186)        (2,222)   
                                                                                         

Net Cash Flow

       (532)        (54)        215         7         (364)        (12)        159         -         (88)        59         (305)   

FX Fluctuation

     (u)        2         -         7         1         10         -         -         -         11         11         20    
                                                                                         

Ending Total Cash and Investments

     (c)        2,068         8,898         4,924         3,354         19,244         34         1,256         1         2,417         3,708         22,951    

Restricted Cash

     (d)        (1,582)        (681)        (1,726)        (50)        (4,039)        -         -         -         (74)        (74)        (4,112)   
                                                                                         

Ending Free Cash and Investments (4/30/11)

      $ 485       $ 8,217        $ 3,199        $ 3,305        $ 15,205        $ 34        $ 1,256        $ 1        $ 2,344        $ 3,634        $ 18,839    
                                                                                         

Totals may not foot due to rounding

 

5

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

Schedule of Cash Receipts and Disbursements (a)

April 1, 2011 - April 30, 2011

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

 

00000000 00000000 00000000 00000000 00000000 00000000 00000000 00000000 00000000 00000000 00000000 00000000
          Debtor Entities     Other Controlled Entities (b)     Total Debtors
and Other
Controlled		  
          LBHI     LBSF     LCPI     Other      Total     LAMCO     LB1 Grp     PAMI     Other     Total     Entities  

Beginning Total Cash and Investments (4/1/11)

     (c)       $ 2,598        $ 8,951        $ 4,702        $ 3,347         $ 19,598        $ 46        $ 1,096        $ 1        $ 2,495        $ 3,638        $ 23,236    

Restricted Cash

     (d)        (1,473)        (667)        (1,815)        (51)         (4,006)        -         -         -         (82)        (82)        (4,088)   
                                                                                          

Beginning Free Cash and Investments

       1,125         8,284         2,887         3,296           15,591         46         1,096         1         2,413         3,556         19,148    
                                                                                          

Sources of Cash

                         

Derivatives

                         

Collections from Live / Terminated Trades

     (e)        -         63         -         30          93         -            -            -            -            -            93    

Loans

                         

Agency Receipts

     (f)        -         -         73         -          73         -            -            -            -            -            73    

Principal

       108         -         393         -          501         -            -            -            -            -            501    

Interest

       5         -         9         -          13         -            -            -            -            -            13    

Private Equity / Principal Investing

                         

Principal

     (g)        75         -         -         -          75         -            184         -            3         188         263    

Interest

       13         -         1         -          14         -            1         -            15         16         29    

Real Estate

                         

Principal

       49         -         81         -          130         -            4         -            3         7         137    

Interest

       1         -         5         -          6         -            -            -            -            -            6    

Other

                         

Compensation and Benefits Reimbursements

       2         -         -         -          2         -            -            -            -            -            2    

Interest

     (h)        -         3         1         -          5         -            -            -            -            -            5    

Return of Hedging Collateral

     (i)        -         90         35         -          125         -            -            -            -            -            125    

Other

     (j)        15         -         298         17          329         -            -            -            -            -            329    

Asia

       -         -         -         -          -         -            -            -            21         21         21    

Inter-Company Transfers

     (k)        279         15         2         11          306         -            -            -            14         14         320    
                                                                                          

Total Sources of Cash

       546         172         897         58          1,672         -            189         -            56         245         1,917    
                                                                                          

 

6

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

Schedule of Cash Receipts and Disbursements (a)

April 1, 2011 - April 30, 2011

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

 

00000000 00000000 00000000 00000000 00000000 00000000 00000000 00000000 00000000 00000000 00000000 00000000
           Debtor Entities      Other Controlled Entities (b)      Total Debtors
and Other
Controlled		  
           LBHI     LBSF      LCPI     Other      Total      LAMCO      LB1 Grp      PAMI      Other      Total      Entities  

Uses of Cash

                                 

Non-Operating (Principally Preservation of Assets)

                                 

Derivatives

                                 

Payments on Live Trades

        -         (3)         -            -          (3)         -             -             -             -             -             (3)   

Other

      (l)        -         (44)         -            (11)         (56)         -             -             -             -             -             (56)   

Loans

                                 

Agency Disbursements

      (f)        -         -          (73)        -          (73)         -             -             -             -             -             (73)   

Preservation of Assets

      (m)        -         -          (7)        -          (7)         -             -             -             -             -             (7)   

Other

      (n)        -         -          (125)        -          (125)         -             -             -             -             -             (125)   

Private Equity / Principal Investing

                                 

Capital Calls

        (1)        -          -            -          (1)         -             (12)         -             -             (12)         (12)   

Other

      (n)        -         -          (53)        -          (53)         -             -             -             -             -             (53)   

Real Estate

                                 

Preservation of Assets

        (58)        -          (49)        -          (107)         -             -             -             -             -             (107)   

Other

      (n)        -         -          (35)        -          (35)         -             -             -             -             -             (35)   

Other

                                 

Bankhaus Settlement

      (o)        (957)        -          -            -          (957)         -             -             -             -             -             (957)   

Hedging Collateral

      (p)        (6)        (69)         (69)        (1)         (144)         -             -             -             -             -             (144)   

Other

      (q)        (6)        (2)         (266)        -          (274)         -             (2)         -             -             (2)         (276)   

Operating

                                 

Compensation and Benefits

      (r)        (11)        -          -            -          (11)         (5)         -             -             (1)         (6)         (18)   

Professional Fees

      (s)        (20)        -          -            -          (20)         (1)         -             -             -             (1)         (20)   

Other

      (t)        (3)        (1)         -            -          (4)         (6)         -             -             -             (6)         (10)   

Asia

        -         -          -            -          -          -             -             -             (7)         (7)         (7)   

Inter-Company Transfers

      (k)        (16)        (106)         (5)        (39)         (167)         -             (17)         -             (136)         (153)         (320)   
                                                                                                  

Total Uses of Cash

        (1,078)        (225)         (682)        (51)         (2,036)         (12)         (30)         -             (144)         (186)         (2,222)   
                                                                                                  

Net Cash Flow

        (532)        (54)         215         7          (364)         (12)         159          -             (88)         59          (305)   

FX Fluctuation

      (u)        2         -          7         1          10          -             -             -             11          11          20    
                                                                                                  

Ending Total Cash and Investments

      (c)        2,068         8,898          4,924         3,354          19,244          34          1,256          1          2,417          3,708          22,951    

Restricted Cash

      (d)        (1,582)        (681)         (1,726)        (50)         (4,039)         -          -          -          (74)         (74)         (4,112)   
                                                                                                  

Ending Free Cash and Investments (4/30/11)

       $ 485       $ 8,217         $ 3,199        $ 3,305         $ 15,205         $ 34         $ 1,256         $ 1         $ 2,344         $ 3,634         $ 18,839    
                                                                                                  

Totals may not foot due to rounding

 

7

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

Schedule of Cash Receipts and Disbursements (a)

April 1, 2011 - April 30, 2011

 

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

Notes:

(a) Includes cash receipts and disbursements for all Debtor Entities and Other Controlled Entities, globally. Activity in Derivatives, Loans, Private Equity / Principal Investing, Real Estate and Other 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.

(b) Other Controlled Entities include Non-Debtor entities which are under the control of LBHI, except for Aurora Bank, Woodlands Commercial Bank, Lehman Brothers Bancorp Inc., 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 and Ending Cash and Investments balance excludes cash posted for hedging activity.

(d) Restricted balances are preliminary estimates of cash 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.

(e) Collections from Live / Terminated Trades for Other Debtors reflects the following: LBCC $26 million, LBCS $3 million and LBFP $1 million.

(f) Reflects the collection of principal and interest for syndicated loan participants and subsequent distribution to syndicated loan participants.

(g) Primarily reflects sale of a direct investment in Chrysler Financial (LB 1 Group) and a partial redemption of an LP investment in One William Street (LBHI).

(h) Reflects interest collected on court-approved investments portfolio.

(i) Reflects the return of cash posted to hedge foreign currency and interest rate risk for Derivatives, Loans and Real Estate.

(j) Primarily reflects a $10 million receipt for LBHI related to an intercompany repayment from LB Bancorp; a $263 million receipt for LCPI related to a foreign currency exchange; and a $17 million receipt for Other Debtors (BNC Mortgage) related to an intercompany repayment from Aurora Bank.

(k) Primarily reflects a $121 million distribution from Wharf Reinsurance Inc. to LBHI and $141 million in distributions from the following entities to LBHI for cost allocations for 7/1/10 to 12/31/10: LBSF ($95 million), LB 1 Group ($17 million), LBCS ($12 million), LBCC ($6 million), LOTC ($5 million), LBFP ($1 million) and Other Controlled Entities ($5 million).

(l) Reflects a $44 million disbursement for LBSF to purchase an SPV note and an $11 million disbursement for Other Debtors (LBCC) to return funds received in error in October 2008.

(m) Reflects advances on revolving lines of credit.

(n) Reflects disbursements of restricted cash to the Spruce trustee for funds received by LCPI post-filing on assets that were participated to the Spruce CDO structure. Funds will be subsequently disbursed by the Spruce trustee in May 2010 to the Spruce noteholders (LBHI and LCPI).

(o) Reflects a disbursement for the court-approved agreement with LB Bankhaus to purchase the Spruce and Verano Mezzanine Notes and a portion of the SASCO Class A Note.

(p) Reflects cash posted to hedge foreign currency and interest rate risk for Derivatives, Loans and Real Estate. Hedging collateral for Other Debtors reflects $1 million for LBCC.

(q) Primarily reflects a $266 million disbursement for LCPI related to a foreign currency exchange.

(r) Compensation and Benefits includes fees paid to Alvarez & Marsal as interim management. A portion of the $11 million related to LBHI will be subject to future cost allocation to various Lehman legal entities.

(s) A portion of the $20 million related to LBHI will be subject to future cost allocation to various Lehman legal entities.

(t) Primarily reflects expenses related to occupancy, the Transition Services Agreement, taxes, insurance and infrastructure costs. A portion of the $3 million related to LBHI will be subject to future cost allocation to various Lehman legal entities.

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

 

8

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 APRIL 30, 2011

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.

 

  1.

This MOR is not prepared in accordance with U.S. generally accepted accounting principles (GAAP). This MOR should be read in conjunction with the financial statements and accompanying notes in the Company’s reports that were filed with the United States Securities and Exchange Commission.

 

  2.

This MOR is not audited and will not be subject to audit or review by the Company’s external auditors at any time in the future.

 

  3.

The professional fee disbursements presented in this report reflect the date of actual cash payments to professional service providers. The Debtors have incurred additional professional fee expenses during the reporting period that will be reflected in future MORs as cash payments are made to providers.

 

9

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

Schedule of Professional Fee and Expense Disbursements (a)

April 2011

Unaudited ($ in thousands)

 

          April-2011      Filing Date
Through April-2011		     (b)  
                     

Debtors - Claims and Noticing Agent

           

Epiq Bankruptcy Solutions LLC

   

Claims Management and Noticing Agent

      $ 398          $ 13,109      

Debtors - Section 363 Professionals

           

Alvarez & Marsal LLC

   

Interim Management

      8,882          431,749      

Kelly Matthew Wright

   

Art Consultant and Auctioneer

      -          91      

Natixis Capital Markets Inc.

   

Derivatives Consultant

      292          14,590      

Debtors - Section 327 Professionals

           

Bingham McCutchen LLP

   

Special Counsel - Tax

      1,013          17,800      

Bortstein Legal LLC

   

Special Counsel - IT and Other Vendor Contracts

      33          3,786      

Clyde Click, P.C.

   

Special Counsel - Real Estate

      24          102      

Curtis, Mallet - Prevost, Colt & Mosle LLP

   

Special Counsel - Conflicts

      1,240          27,759      

Dechert LLP

   

Special Counsel - Real Estate

      171          1,869      

Deloitte LLP

   

Tax Services

      -          190      

Discover Ready LLC

   

eDiscovery Services

      387          13,199      

Ernst & Young LLP

   

Audit and Tax Services

      -          1,553      

Gibson Dunn & Crutcher LLP

   

Special Counsel - Real Estate

      205          2,242      

Hudson Global Resources

   

Contract Attorneys

      320          9,903      

Huron Consulting

   

Tax Services

      -          2,145      

Jones Day

   

Special Counsel - Asia and Domestic Litigation

      1,107          50,090      

Kasowitz, Benson, Torres & Friedman

   

Special Counsel - Litigation

      194          843      

Kleyr Grasso Associes

   

Special Counsel - UK

      -          454      

Latham & Watkins LLP

   

Special Counsel - Real Estate

      16          445      

Lazard Freres & Co.

   

Investment Banking Advisor

      -          24,900      

McKenna Long & Aldridge LLP

   

Special Counsel - Commercial Real Estate Lending

      -          4,935      

MMOR Consulting

   

Tax Services

      42          356      

Momo - o, Matsuo & Namba

   

Special Counsel - Asia

      -          137      

O’Neil Group

   

Tax Services

      57          1,434      

Pachulski Stang Ziehl & Jones

   

Special Counsel - Real Estate

      219          2,099      

Paul, Hastings, Janofsky & Walker LLP

   

Special Counsel - Real Estate

      -          1,070      

PricewaterhouseCoopers LLP

   

Tax Services

      338          1,564      

Reed Smith LLP

   

Special Counsel - Insurance

      65          535      

Reilly Pozner LLP

   

Special Counsel - Mortgage Litigation and Claims

      262          6,104      

Simpson Thacher & Bartlett LLP

   

Special Counsel - SEC Reporting, Asset Sales, and Congressional Testimony

      -          2,558      

SNR Denton LLP

   

Special Counsel - Real Estate

      81          882      

Sutherland LLP

   

Special Counsel - Tax

      39          325      

Weil Gotshal & Manges LLP

   

Lead Counsel

      7,859          293,833      

Windels Marx Lane & Mittendorf, LLP

   

Special Counsel - Real Estate

      102          2,538      

Wollmuth Maher & Deutsch LLP

   

Special Counsel - Derivatives

      270          851      

Creditors - Section 327 Professionals

           

FTI Consulting Inc.

   

Financial Advisor

      2,453          61,157      

Houlihan Lokey Howard & Zukin Capital Inc.

   

Investment Banking Advisor

      -          11,255      

Milbank Tweed Hadley & McCloy LLP

   

Lead Counsel

      -          93,235      

Quinn Emanuel Urquhart Oliver & Hedges LLP

   

Special Counsel - Conflicts

      -          17,116      

Richard Sheldon, Q.C.

   

Special Counsel - UK

      -          130      

Examiner - Section 327 Professionals

           

Duff & Phelps LLC

   

Financial Advisor

      -          42,502      

Jenner & Block LLP

   

Examiner

      3          57,961      

Fee Examiner

           

Feinberg Rozen LLP

   

Fee Examiner (Previous)

      -          3,158      

Brown Greer Plc

   

Fee and Expense Analyst

      38          577      
                     

Total Non - Ordinary Course Professionals

         26,109          1,223,133      
                     

Debtors - Ordinary Course Professionals

         839          38,395      
                     

US Trustee Quarterly Fees

         123          1,306      
                     

Total Professional Fees and UST Fees (c)

         $         27,072          $             1,262,834      
                     

 

(a) All professional fees have been paid by LBHI; however, a portion has been charged back to debtor and non - debtor subsidiaries based on the direct costs associated with each entity and an allocation methodology.
(b) The figures reflected in this table represent cash disbursements from LBHI’s filing date through the end of April 2011. The figures do not include accruals.
(c) Excludes professional services rendered on behalf of non-debtor entities which are invoiced separately.

 

10

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