The Lehman Brothers Bank Bankruptcy : The fall of the non universal banks

Lehman Brothers Holdings Inc has tapped bankruptcy expert Harvey Miller of Weil, Gotshal & Manges LLP to help carry out its possible liquidation, the Wall Street Journal said.
Lehman's relationship with New York-based Weil goes back some three decades, and the firm has advised the bank on numerous deals, from mortgage securitizations to private-equity buyouts to telecom mergers, the paper said.
Miller led the bankruptcies of Texaco Inc and Continental Airlines Inc, as well as the 1990 filing of Drexel Burnham Lambert Inc, the last major investment bank to file for bankruptcy protection, the Journal said.
Although Lehman filed for Chapter 11 bankruptcy protection on Monday, several lawyers told the paper they suspected the bank's holding company would ultimately liquidate, after selling off what it could.
Lehman and Miller could not be immediately reached for comment.

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