LEHMAN BROTHERS HOLDINGS INC. PLAN TRUST - FORM 8-K - EX-99.1 - LEHMAN BROTHERS HOLDINGS INC. - MONTHLY OPERATING REPORT - June 20, 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

MAY 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: June 20, 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) 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

MAY 1, 2011 TO MAY 31, 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 $233 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)

May 1, 2011 - May 31, 2011

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

 

           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 (5/1/11)

     (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)   
                                                                                                    

Beginning Free Cash and Investments

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

Sources of Cash

                                   

Derivatives

        -          359          -          93          452          -          -          -          -          -          452    

Loans

        34         -          325          -          360          -          32          -          -          32          392    

Private Equity / Principal Investing

        -          -          11          -          11          -          21          -          59          80          91    

Real Estate

        41          -          28          -          68          -          -          14          10          24          92    

Other

        1,624          49          102          2         1,776          -          1          -          -          1          1,776    

Asia

        -          -          -          -          -          -          -          -          74          74          74    

Inter-Company Transfers

        76          -          4          -          80          -          -          -          -          -          80    
                                                                                                    

Total Sources of Cash

        1,775          407          470          95          2,747          -          54          14          142          210          2,957    
                                                                                                    

Uses of Cash

                                   

Non-Operating (Principally Preservation of Assets)

                                   

Derivatives

        -          (39)         -          -          (39)         -          -          -          -          -          (39)   

Loans

        -          (1)         (1,198)         -          (1,199)         -          -          -          -          -          (1,199)   

Private Equity / Principal Investing

        -          -          (104)         -          (104)         -          (2)         -          -          (2)         (106)   

Real Estate

        (5)         -          (251)         -          (256)         -          -          -          (1)         (1)         (257)   

Other

        (6)         (65)         (577)         (5)         (653)         -          -          -          -          -          (653)   

Operating

        (65)         (4)         -          -          (68)         (10)         -          -          (2)         (12)         (80)   

Asia

        -          -          -          -          -          -          -          -          (11)         (11)         (11)   

Inter-Company Transfers

        (4)         (1)         -          -          (5)         -          -          (15)         (61)         (76)         (81)   
                                                                                                    

Total Uses of Cash

        (79)         (111)         (2,129)         (5)         (2,323)         (10)         (2)         (15)         (74)         (101)         (2,424)   
                                                                                                    

Net Cash Flow

        1,696          297          (1,659)         90          424          (10)         52          (1)         68          109          533    

FX Fluctuation

     (s)         (1)         -          -          -          (1)         -          -          -          (6)         (6)         (7)   
                                                                                                    

Ending Total Cash and Investments

     (c)         3,762          9,194          3,266          3,444          19,667          24          1,307          -          2,479          3,810          23,477    

Restricted Cash

     (d)         (1,661)         (681)         (48)         (52)         (2,442)         -          -          -          (73)         (73)         (2,515)   
                                                                                                    

Ending Free Cash and Investments (5/31/11)

       $ 2,101        $ 8,513         $ 3,218         $ 3,393         $ 17,225         $ 24         $ 1,307         $ -         $ 2,406         $ 3,737         $ 20,962    
                                                                                                    

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)

May 1, 2011 - May 31, 2011

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

 

        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 (5/1/11)

   (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)   
                                                                                         

Beginning Free Cash and Investments

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

Sources of Cash

                        

Derivatives

                        

Collections from Live / Terminated Trades

   (e)     -         359         -         93         452         -            -            -            -            -            452    

Loans

                        

Agency Receipts

   (f)     -         -         228         -         228        -            -            -            -            -            228    

Principal

       34         -         88         -         122        -            31         -            -            31         153    

Interest

       1         -         9         -         10        -            1         -            -            1         11    

Private Equity / Principal Investing

                        

Principal

   (g)     -         -         11         -         11         -            19         -            58         76         87    

Interest

       -         -         -         -         -         -            3         -            1         4         4    

Real Estate

                        

Principal

       39         -         24         -         63         -            -            12         10         22         85    

Interest

       1         -         4         -         5         -            -            2         -            2         7    

Other

                        

Interest

   (h)     2         9         3         2         15         -            1         -            -            1         16    

Return of Hedging Collateral

   (i)     5         40         59         -         104         -            -            -            -            -            104    

Structured Notes

   (j)     1,612         -         40         -         1,652         -            -            -            -            -            1,652    

Other

       5         -         -         -         5         -            -            -            -            -            5    

Asia

       -         -         -         -         -         -            -            -            74         74         74    

Inter-Company Transfers

   (k)     76         -         4         -         80         -            -            -            -            -            80    
                                                                                         

Total Sources of Cash

       1,775         407         470         95         2,747         -            54         14         142         210         2,957    
                                                                                         

 

6

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

Schedule of Cash Receipts and Disbursements (a)

May 1, 2011 - May 31, 2011

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

 

            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

                                    

Other

      (l)         -          (39)         -             -          (39)         -             -             -             -             -             (39)   

Loans

                                    

Agency Disbursements

      (f)         -          -          (228)         -          (228)         -             -             -             -             -             (228)   

Preservation of Assets

         -          (1)         (12)         -          (13)         -             -             -             -             -             (13)   

Other

      (m)         -          -          (957)         -          (957)         -             -             -             -             -             (957)   

Private Equity / Principal Investing

                                    

Capital Calls

         -          -          -          -          -           -             (2)         -             -             (2)         (2)   

Other

      (m)         -          -          (104)         -          (104)         -             -             -             -             -             (104)   

Real Estate

                                    

Preservation of Assets

         (5)         -          (25)         -          (30)         -             -             -             (1)         (1)         (31)   

Other

      (m)         -          -          (226)         -          (226)         -             -             -             -             -             (226)   

Other

                                    

Pine Note Purchase

      (n)         -          -          (544)         -          (544)         -             -             -             -             -             (544)   

Hedging Collateral

      (o)         (4)         (62)         (33)         (5)         (104)         -             -             -             -             -             (104)   

Other

         (2)         (3)         -          -          (5)         -             -             -             -             -             (5)   

Operating

                                    

Compensation and Benefits

      (p)         (13)         -          -          -          (13)         (5)         -             -             (1)         (5)         (18)   

Professional Fees

      (q)         (48)         -          -          -          (48)         (1)         -             -             -             (1)         (49)   

Other

      (r)         (4)         (4)         -          -          (7)         (5)         -             -             (1)         (6)         (13)   

Asia

         -          -          -          -          -          -             -             -             (11)         (11)         (11)   

Inter-Company Transfers

      (k)         (4)         (1)         -          -          (5)         -             -             (15)         (61)         (76)         (81)   
                                                                                                     

Total Uses of Cash

         (79)         (111)         (2,129)         (5)         (2,323)         (10)         (2)         (15)         (74)         (101)         (2,424)   
                                                                                                     

Net Cash Flow

         1,696          297         (1,659)         90         424         (10)         52         (1)         68         109         533   

FX Fluctuation

      (s)         (1)         -          -          -          (1)         -             -             -             (6)         (6)         (7)    
                                                                                                     

Ending Total Cash and Investments

      (c)         3,762          9,194          3,266          3,444          19,667          24          1,307          -             2,479          3,810          23,477    

Restricted Cash

      (d)         (1,661)         (681)         (48)         (52)         (2,442)         -             -             -             (73)         (73)         (2,515)   
                                                                                                     

Ending Free Cash and Investments (5/31/11)

        $ 2,101         $ 8,513         $ 3,218         $ 3,393         $ 17,225         $ 24         $ 1,307         $ -            $ 2,406         $ 3,737         $ 20,962    
                                                                                                     

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)

May 1, 2011 - May 31, 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: LBCS $70 million, LBFP $13 million, LBCC $5 million and LBDP $5 million.

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

(g) Primarily reflects proceeds related to a direct investment in Alcon Film Fund (Other - ALI).

(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) Reflects receipts from the Spruce and Verano trustees for payments to noteholders.

(k) Primarily reflects transfers from Other Controlled Entities to LBHI to settle post-petition intercompany payables.

(l) Reflects a disbursement to purchase an SPV note.

(m) Primarily reflects disbursements of restricted cash to the Spruce and Verano trustees for funds received by LCPI post-filing on assets that were participated to the Spruce and Verano CDO structures. Funds were subsequently disbursed by the trustees in May to the Spruce and Verano noteholders (LBHI and LCPI). See footnote (j).

(n) Reflects a disbursement for the court-approved agreement with Barclays for LCPI to purchase the Class A-1 Pine Note.

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

(p) Compensation and Benefits includes Lehman employees as well as fees paid to Alvarez & Marsal as interim management. A portion of the $13 million related to LBHI will be subject to future cost allocation to various Lehman legal entities.

(q) A portion of the $48 million (which includes the reimbursement of the remaining holdbacks from the period of February, 2010 through May, 2010), will be subject to future cost allocation to various Lehman legal entities.

(r) Primarily reflects expenses related to occupancy, the Transition Services Agreement, taxes, insurance and infrastructure costs. A portion of the $4 million related to LBHI will be subject to future cost allocation to various Lehman legal entities.

(s) 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 MAY 31, 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.

 

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

Schedule of Professional Fee and Expense Disbursements (a)

May 2011

Unaudited ($ in thousands)

 

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

Debtors - Claims and Noticing Agent

         

Epiq Bankruptcy Solutions LLC

    Claims Management and Noticing Agent     $ 437         $ 13,546      

Debtors - Section 363 Professionals

         

Alvarez & Marsal LLC

    Interim Management     10,447        442,196      

Kelly Matthew Wright

    Art Consultant and Auctioneer     -         91      

Natixis Capital Markets Inc.

    Derivatives Consultant     -         14,590      

Debtors - Section 327 Professionals

         

Bingham McCutchen LLP

    Special Counsel - Tax     223        18,023      

Bortstein Legal LLC

    Special Counsel - IT and Other Vendor Contracts     104        3,890      

Clyde Click, P.C.

    Special Counsel - Real Estate     14        117      

Curtis, Mallet-Prevost, Colt & Mosle LLP

    Special Counsel - Conflicts     3,617        31,376      

Dechert LLP

    Special Counsel - Real Estate     -         1,869      

Deloitte LLP

    Tax Services     54        244      

Discover Ready LLC

    eDiscovery Services     -         13,199      

Ernst & Young LLP

    Audit and Tax Services     4        1,556      

Gibson Dunn & Crutcher LLP

    Special Counsel - Real Estate     -         2,242      

Hudson Global Resources

    Contract Attorneys     574        10,477      

Huron Consulting

    Tax Services     -         2,145      

Jones Day

    Special Counsel - Asia and Domestic Litigation     2,516        52,607      

Kasowitz, Benson, Torres & Friedman

    Special Counsel - Litigation     84        928      

Kleyr Grasso Associes

    Special Counsel - UK     -         454      

Latham & Watkins LLP

    Special Counsel - Real Estate     36        481      

Lazard Freres & Co.

    Investment Banking Advisor     3,240        28,141      

McKenna Long & Aldridge LLP

    Special Counsel - Commercial Real Estate Lending     -         4,935      

MMOR Consulting

    Tax Services     43        399      

Momo-o, Matsuo & Namba

    Special Counsel - Asia     57        194      

O’Neil Group

    Tax Services     161        1,595      

Pachulski Stang Ziehl & Jones

    Special Counsel - Real Estate     -         2,099      

Paul, Hastings, Janofsky & Walker LLP

    Special Counsel - Real Estate     224        1,294      

PricewaterhouseCoopers LLP

    Tax Services     -         1,564      

Reed Smith LLP

    Special Counsel - Insurance     45        580      

Reilly Pozner LLP

    Special Counsel - Mortgage Litigation and Claims     144        6,248      

Simpson Thacher & Bartlett LLP

   

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

     81        2,639      

SNR Denton LLP

    Special Counsel - Real Estate     -         882      

Sutherland LLP

    Special Counsel - Tax     38        363      

Weil Gotshal & Manges LLP

    Lead Counsel     15,975        309,808      

Windels Marx Lane & Mittendorf, LLP

    Special Counsel - Real Estate     153        2,692      

Wollmuth Maher & Deutsch LLP

    Special Counsel - Derivatives     -         851      

Creditors - Section 327 Professionals

         

FTI Consulting Inc.

    Financial Advisor     1,904        63,061      

Houlihan Lokey Howard & Zukin Capital Inc.

    Investment Banking Advisor     878        12,133      

Milbank Tweed Hadley & McCloy LLP

    Lead Counsel     8,896        102,131      

Quinn Emanuel Urquhart Oliver & Hedges LLP

    Special Counsel - Conflicts     1,567        18,684      

Richard Sheldon, Q.C.

    Special Counsel - UK     26        156      

Examiner - Section 327 Professionals

         

Duff & Phelps LLC

    Financial Advisor     -         42,502      

Jenner & Block LLP

    Examiner     442        58,403      

Fee Examiner

         

Godfrey & Kahn, S.C.

    Fee Examiner (Current)     1,079        1,079      

Feinberg Rozen LLP

    Fee Examiner (Previous)     -         3,158      

Brown Greer Plc

    Fee and Expense Analyst     76        653      
                   

Total Non-Ordinary Course Professionals

        53,140        1,276,274      
                   

Debtors - Ordinary Course Professionals

        1,117        39,512      
                   

US Trustee Quarterly Fees

        -         1,306      
                   

Total Professional Fees and UST Fees (c)

        $         54,257        $             1,317,091      
                   

 

(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 May 2011. The figures do not include accruals.
(c) Excludes professional services rendered on behalf of non-debtor entities which are invoiced separately.

 

10