New Cases

Lehman Brothers Holdings Inc. will sell its 49% stake in asset manager Neuberger Berman to Neuberger’s employees for $1.5 billion, which would benefit Lehman’s creditors and put Neuberger on a path toward 100% employee ownership. Read the Daily Bankruptcy Review article here.

Dynegy Inc.’s holding company filed for Chapter 11 protection Monday night, The Wall Street Journal reports. The bankruptcy filing could cause bondholder losses without harming shareholders of the parent company.

Lehman Brothers Holdings Inc.’s European affiliate is angry at a move by the trustee unwinding Lehman’s U.S. brokerage to block European creditors from recovering more than $8 billion, a dispute that could augur what’s in store for customers of MF Global Holdings Ltd.’s brokerage. Read the Daily Bankruptcy Review article here.

A judge on Monday rejected Tribune Co.’s plan to exit bankruptcy, sending the media giant back to the bargaining table to find a viable restructuring strategy after nearly three years in Chapter 11. Read the Daily Bankruptcy Review article here.

Brokerage firm MF Global filed for Chapter 11 protection Monday. The Wall Street Journal has details regarding a deal the company was negotiating Sunday to sell its assets to Interactive Brokers Group, said a person familiar with the matter.