EX-99.1 2 a10-18045_1ex99d1.htm EX-99.1

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 (JMP)

 

 

 

Debtors.

 

 

 

MONTHLY OPERATING REPORT

 

AUGUST 2010

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 SHAI WAISMAN

 

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: September 17, 2010

By: 

/s/ William J. Fox

 

 

William J. Fox

 

 

Executive Vice President

 

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

 


 

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

7

Schedule of Professional Fee and Expense Disbursements

8

 


 

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 case of Fundo de Investimento Multimercado Credito Privado Navigator Investimento No Exterior (Case No: 08-13903) has been dismissed.

 

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

 

3


 

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

 

BASIS OF PRESENTATION

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

AUGUST 1, 2010 TO AUGUST 31, 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.

 

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 balances exclude cash that has been posted as collateral for hedging activity.

 

6.     Beginning and ending cash balances exclude cash related to LBHI’s wholly-owned indirect subsidiaries Aurora Bank FSB (formerly known as Lehman Brothers Bank FSB), Woodlands Commercial Bank (formerly known as Lehman Brothers Commercial Bank), LBTC Transfer Inc. (formerly known as Lehman Brothers Trust Company N.A.), and Lehman Brothers Trust Company of Delaware.

 

7.     Cash pledged on, or prior to, September 15, 2008 by the Company in connection with certain documents executed by the Company and various financial institutions has been excluded from this report.

 

8.     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

Schedule of Cash Receipts and Disbursements (a)

August 1, 2010 - August 31, 2010

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debtor Entities

 

Other Controlled Entities (b)

 

Total Debtors
and Other
Controlled

 

 

 

LBHI

 

LBSF

 

LBCS

 

LOTC

 

LCPI

 

LBCC

 

LBFP

 

LBDP

 

Other

 

Total

 

LAMCO

 

LB1 Grp

 

PAMI

 

Other

 

Total

 

Entities

 

Beginning Cash & Investments (8/1/10) (c)

 

$

1,994

 

$

7,468

 

$

1,627

 

$

240

 

$

3,334

 

$

490

 

$

423

 

$

387

 

$

12

 

$

15,975

 

$

85

 

$

811

 

$

35

 

$

2,362

 

$

3,293

 

$

19,268

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sources of Cash:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Repayment of Advances Made to Aurora (d)

 

14

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

14

 

—

 

—

 

—

 

—

 

—

 

14

 

Compensation and Benefits Reimbursements (e)

 

1

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

1

 

—

 

—

 

—

 

—

 

—

 

1

 

Other Receipts (f)

 

3

 

5

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

8

 

1

 

—

 

—

 

4

 

5

 

14

 

Derivatives (g)

 

3

 

180

 

4

 

—

 

—

 

7

 

1

 

—

 

—

 

194

 

—

 

—

 

—

 

23

 

23

 

217

 

Loans (h)

 

123

 

—

 

—

 

—

 

667

 

—

 

—

 

—

 

—

 

790

 

—

 

2

 

—

 

—

 

—

 

790

 

Private Equity / Principal Investing (i)

 

36

 

—

 

—

 

—

 

3

 

—

 

—

 

—

 

—

 

39

 

—

 

22

 

—

 

1

 

23

 

61

 

Real Estate (j)

 

42

 

—

 

—

 

—

 

119

 

—

 

—

 

—

 

—

 

162

 

—

 

—

 

—

 

3

 

3

 

164

 

Asia (k)

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

297

 

297

 

297

 

South America

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

4

 

4

 

4

 

Inter-Company Transfers (l)

 

257

 

—

 

—

 

—

 

6

 

—

 

—

 

—

 

—

 

263

 

—

 

—

 

19

 

4

 

24

 

287

 

Total Sources of Cash

 

479

 

185

 

4

 

—

 

795

 

7

 

1

 

—

 

—

 

1,470

 

1

 

23

 

19

 

336

 

379

 

1,849

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Uses of Cash:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Compensation and Benefits (m)

 

(19

)

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

(19

)

(4

)

—

 

—

 

(1

)

(5

)

(25

)

Professional Fees (n)

 

(31

)

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

(31

)

—

 

—

 

—

 

—

 

—

 

(31

)

Other Operating Expenses (o)

 

(7

)

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

(7

)

(1

)

—

 

—

 

(1

)

(2

)

(9

)

Derivatives, principally hedging (p)

 

(1

)

(120

)

—

 

—

 

—

 

—

 

(6

)

—

 

—

 

(126

)

—

 

—

 

—

 

—

 

—

 

(126

)

Loans (q)

 

—

 

—

 

—

 

—

 

(524

)

—

 

—

 

—

 

—

 

(524

)

—

 

—

 

—

 

—

 

—

 

(524

)

Private Equity / Principal Investing (r)

 

(5

)

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

(5

)

—

 

(7

)

—

 

—

 

(7

)

(12

)

Real Estate (s)

 

(19

)

—

 

—

 

—

 

(35

)

—

 

—

 

—

 

—

 

(54

)

—

 

—

 

(11

)

—

 

(11

)

(66

)

Asia (k)

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

(237

)

(237

)

(237

)

South America

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Inter-Company Transfers (l)

 

(30

)

(162

)

(18

)

(5

)

(45

)

(3

)

(1

)

—

 

—

 

(264

)

—

 

(10

)

—

 

(13

)

(23

)

(287

)

Total Uses of Cash

 

(112

)

(282

)

(18

)

(5

)

(605

)

(3

)

(7

)

—

 

—

 

(1,030

)

(6

)

(17

)

(11

)

(252

)

(286

)

(1,316

)

Net Cash Flow

 

367

 

(97

)

(14

)

(5

)

190

 

5

 

(6

)

—

 

—

 

440

 

(5

)

7

 

8

 

84

 

93

 

533

 

FX Fluctuation (t)

 

(3

)

—

 

—

 

—

 

(2

)

—

 

—

 

—

 

—

 

(5

)

—

 

—

 

—

 

7

 

7

 

2

 

Ending Cash & Investments (8/31/10) (u)

 

$

2,358

 

$

7,371

 

$

1,613

 

$

235

 

$

3,522

 

$

495

 

$

417

 

$

387

 

$

12

 

$

16,409

 

$

80

 

$

817

 

$

43

 

$

2,453

 

$

3,394

 

$

19,803

 

 

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)

August 1, 2010 - August 31, 2010

 

Notes

 

(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 Asian 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, 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 Investment balances include approximately $3.4 billion in co-mingled and segregated accounts associated with pledged assets, court ordered segregated accounts, funds administratively held by banks, funds related to the JP Morgan Collateral Disposition Agreement (“CDA”), and other identified funds which may not belong to the Debtors or Other Controlled Entities. Beginning Cash and Investment balances exclude approximately $586 million of cash posted for hedging activity, prior to the recognition of any gains or losses.

 

(d) Reflects repayment of advances made to Aurora Bank for the court approved advance receivables facility.

 

(e) Reflects repayment of advances for payroll and benefits disbursements made on behalf of Woodlands Commercial Bank.

 

(f) Primarily reflects $5 million of interest income and $4 million from the transfer of cash from accounts not controlled by the Company.

 

(g) Primarily reflects settlements from counterparties and the return of $46 million of collateral posted for hedging.

 

(h) Primarily reflects principal and interest payments from borrowers, of which a portion has been distributed to syndicated loan participants (see footnote q).

 

(i) Primarily reflects redemptions, distributions and/or proceeds from the sale of investments.

 

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

 

(k) Primarily reflects $239 million of proceeds from the disposition of assets in the Kingfisher Capital CLO Limited secured structure.  $232 million of these proceeds were transferred to the structure’s trustee and subsequently distributed to LBHI as custodian in September 2010.

 

(l) Primarily reflects $255 million transferred to LBHI from various Lehman legal entities for Q1 2010 cost allocations and true-ups from prior periods.

 

(m) Compensation and Benefits includes fees paid to Alvarez & Marsal as interim management. A portion of the $19 million related to LBHI will be subject to future cost allocation to various Lehman legal entities.

 

(n) A portion of the $31 million related to LBHI will be subject to future cost allocation to various Lehman legal entities.

 

(o) Primarily reflects expenses related to occupancy, Transition Services Agreement, taxes, insurance, and infrastructure costs.  A portion of the $7 million related to LBHI will be subject to future cost allocation to various Lehman legal entities.

 

(p) Primarily reflects $124 million of collateral posted for hedging.

 

(q) Primarily reflects principal and interest distributed to syndicated loan participants where Lehman acts as agent.

 

(r) Primarily reflects capital calls on investments.

 

(s) Primarily reflects payments made for the preservation of assets of Real Estate positions.

 

(t) Reflects fluctuation in value in foreign currency bank accounts.

 

(u) Ending Cash and Investment balances include approximately $3.5 billion in co-mingled and segregated accounts.  These amounts are preliminary and estimated as follows:  Debtors - LBHI $558 million, LBSF $610 million, LBCS $42 million, LCPI $2.2 billion, LBCC $5 million, Lehman Scottish Finance $2 million; and non-Debtors $77 million, and are subject to adjustment.  Ending Cash and Investment balances exclude approximately $653 million of cash posted as collateral for hedging activity, prior to the recognition of any gains or losses, broken down as follows: LBSF $614 million, LBFP $27 million, LBCC $9 million, LBHI $2 million, and LBCS $1 million.

 

6


 

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

 

BASIS OF PRESENTATION
SCHEDULE OF PROFESSIONAL FEE AND EXPENSE DISBURSEMENTS
DATED FROM FILING DATE TO AUGUST 31, 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.

 

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 annual and quarterly 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.

 

7


 

LEHMAN BROTHERS HOLDINGS INC. and Other Debtors

Schedule of Professional Fee and Expense Disbursements (a)

August 2010

Unaudited ($ in thousands)

 

 

 

 

 

 

 

Filing Date

 

 

 

 

 

August-2010

 

Through August-2010 (b)

 

Debtors - Section 363 Professionals

 

 

 

 

 

 

 

Alvarez & Marsal LLC

 

Interim Management

 

$

16,400

 

$

342,429

 

Kelly Matthew Wright

 

Art Consultant and Auctioneer

 

12

 

77

 

Natixis Capital Markets Inc.

 

Derivatives Consultant

 

—

 

9,310

 

Debtors - Section 327 Professionals

 

 

 

 

 

 

 

Bingham McCutchen LLP

 

Special Counsel - Tax

 

475

 

13,718

 

Bortstein Legal LLC

 

Special Counsel - IT and Other Vendor Contracts

 

63

 

3,418

 

Curtis, Mallet-Prevost, Colt & Mosle LLP

 

Special Counsel - Conflicts

 

758

 

19,587

 

Dechert LLP

 

Special Counsel - Real Estate

 

—

 

172

 

Discover Ready LLC

 

eDiscovery Services

 

—

 

8,413

(c)

Ernst & Young LLP

 

Audit and Tax Services

 

—

 

1,520

 

Gibson Dunn & Crutcher LLP

 

Special Counsel - Real Estate

 

71

 

381

 

Hudson Global Resources

 

Contract Attorneys

 

248

 

5,284

(d)

Huron Consulting

 

Tax Services

 

—

 

2,145

 

Jones Day

 

Special Counsel - Asia and Domestic Litigation

 

2,450

 

35,189

 

Kasowitz, Benson, Torres & Friedman

 

Special Counsel - Litigation

 

48

 

322

 

Latham & Watkins LLP

 

Special Counsel - Real Estate

 

—

 

166

 

Lazard Freres & Co.

 

Investment Banking Advisor

 

—

 

23,059

 

McKenna Long & Aldridge LLP

 

Special Counsel - Commercial Real Estate Lending

 

516

 

4,379

 

O’Neil Group

 

Tax Services

 

264

 

648

 

Pachulski Stang Ziehl & Jones

 

Special Counsel - Real Estate

 

—

 

1,380

 

Pricewaterhouse Coopers LLP

 

Tax Services

 

79

 

659

 

Reilly Pozner LLP

 

Special Counsel - Mortgage Litigation and Claims

 

302

 

3,538

 

Simpson Thacher & Bartlett LLP

 

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

 

—

 

2,431

 

Sutherland LLP

 

Special Counsel - Tax

 

127

 

127

 

Weil Gotshal & Manges LLP

 

Lead Counsel

 

8,584

 

220,857

 

Windels Marx Lane & Mittendorf, LLP

 

Special Counsel - Real Estate

 

210

 

1,847

 

Debtors - Claims and Noticing Agent

 

 

 

 

 

 

 

Epiq Bankruptcy Solutions LLC

 

Claims Management and Noticing Agent

 

—

 

8,282

 

Creditors - Section 327 Professionals

 

 

 

 

 

 

 

FTI Consulting Inc.

 

Financial Advisor

 

2,457

 

38,231

 

Houlihan Lokey Howard & Zukin Capital Inc.

 

Investment Banking Advisor

 

325

 

8,649

 

Milbank Tweed Hadley & McCloy LLP

 

Lead Counsel

 

8,192

 

69,272

 

Quinn Emanuel Urquhart Oliver & Hedges LLP

 

Special Counsel - Conflicts

 

1,659

 

10,894

 

Richard Sheldon, Q.C.

 

Special Counsel - UK

 

—

 

105

 

Examiner - Section 327 Professionals

 

 

 

 

 

 

 

Duff & Phelps LLC

 

Financial Advisor

 

40

 

39,443

 

Jenner & Block LLP

 

Examiner

 

90

 

54,695

 

Fee Examiner

 

 

 

 

 

 

 

Feinberg Rozen LLP

 

Fee Examiner

 

—

 

1,904

 

Brown Greer Plc

 

Fee and Expense Analyst

 

36

 

234

 

Total Non-Ordinary Course Professionals

 

 

43,406

 

932,763

 

Debtors - Ordinary Course Professionals

 

 

1,165

 

27,656

(e)

US Trustee Quarterly Fees

 

 

—

 

877

 

Total Professional Fees and UST Fees (f)

 

 

$

44,570

 

$

961,296

 

 

(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 August 2010. The figures do not include accruals.

(c)

Filing Date Through August-2010 balance for Discover Ready LLC has been decreased by $1.1 million to account for payments that were made on behalf of non-debtor entities that were inadvertently included in previous MORs.

(d)

Filing Date Through August-2010 balance for Hudson Global Resources has been increased by $486 thousand to account for payments that were inadvertently excluded in previous MORs.

(e)

Filing Date Through August-2010 balance for Debtors - Ordinary Course Professionals (OCPs) has been decreased by $306 thousand to account for payments that were inadvertently included in previous MORs.

(f)

Excludes professional services rendered on behalf of non-debtor entities which are invoiced separately.

 

8