Lehman Brothers Looks To Rehire 480 Employees

Law360, New York (October 31, 2008, 12:00 AM EDT) -- Bankrupt investment bank Lehman Brothers Holdings Inc. has asked for court permission to retain about 480 former employees in order to help wind down its affairs without losing value for its stakeholders.

In a motion filed Wednesday with the U.S. Bankruptcy Court for the Southern District of New York, Lehman Brothers said its current work force is too small to respond “efficiently and effectively” to inquires from traders, brokers, hedge funds and others who all want information about their transactions.

“The retention and recruitment program is...
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