»Lehman Brothers Holdings Inc. is taking steps to spin off its remaining assets, Legacy Asset Management Company (LAMCO). The unit is in charge of corporate-bank debt and risky consumer mortgages.

»The new company would help retain empoloyees by offering the opportunity of jobs beyond the liquidation of Lehman’s assets and would also create more value for Lehman’s creditors, said Alvarez & Marsal.

»The plan is in preliminary stages and would need approval by a U.S. bankruptcy judge.

»Lehman, once the world’s fourth-biggest investment bank, is liquidating to pay creditors. It is said more than 830 billion U.S. dollars in claims have been filed against Lehman.