Restructuring

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.

This week on The Broke and the Beautiful, it looks like the Los Angeles Dodgers are stepping up to be sold, and former outfielder Lenny Dysktra’s going for a knockout. Also this week, another of Bravos’ “Real Housewives” has some bankruptcy-court drama, and the newest James Bond movie has started filming nearly a year after Metro-Goldwyn-Myer Inc. filed for bankruptcy.

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.

Los Angeles Dodgers owner Frank McCourt on Tuesday made a deal with Major League Baseball Tuesday to sell the team, the Associated Press reports.