BofA, Others Slam Lehman Asset Management Plan

Law360, New York (April 5, 2010, 7:42 PM EDT) -- A group of banks including Bank of America Corp., Deutsche Bank AG and Credit Suisse Group AG on Monday slammed Lehman Brothers Holdings Inc.'s bid to launch a new asset management unit, calling the plan an “insider transaction" that could damage the estates of the defunct investment giant's affiliated debtors.

In an objection filed in the U.S. Bankruptcy Court for the Southern District of New York, the banks said Lehman's proposal to reorganize its asset management operations with the creation of a group of entities known...
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