Lehman Brothers Holdings' Structured Asset Securities Corp. and LB Rose Ranch filed for bankruptcy, both entities want to wind down along with their parent firm, according to published reports.
Structured Assets Chapter 11 petition, filed with the U.S. Bankruptcy Court in Manhattan, lists assets and debt of more than $1 billion each, said the report.
LB Rose Ranch, which is the owner of the Ironbridge Golf Club and building lots in Ironbridge Golf Club & Mountain Community filed for court protection in New York as well.
The two units want their bankruptcies consolidated with Lehmans, according to court documents, said the published report.
Lehman filed for bankruptcy in U.S. history on Sept. 15, when it listed $639 billion in assets and $613 billion in liabilities. After that, 20 Lehman affiliates have subsequently filed for bankruptcy, which include the two entities above, said the published report.
According to the report, the case was filed as Structured Asset Securities Corp., 09-10558, U.S. Bankruptcy Court, Southern District of New York (Manhattan).
Meanwhile, Lehmans case is In re Lehman Brothers Holdings Inc., 08-13555, U.S. Bankruptcy Court, Southern District of New York (Manhattan), said the report.
