In a court filing, Lehman Brothers requested a judge to let Neuberger Berman sell $180 million of its ABS, Bloomberg reported.

Lehman stated that it has 56 series of securities issued by trusts that held pools of mortgage loans and other obligations from countries including Britain, Australia, Italy and Korea.

For instance, the bankrupt investment bank and its wholly owned subsidiary called Grange Securities, based in Australia, marketed complex fixed-income derivatives to the country's charities and councils.

Lehman is asking for permission to hedge the holdings by posting as much as $55 million of collateral.

In a U.S. Bankruptcy Court in New York filing done on Christmas eve, Lehman said that after two years of being severely depressed, credit markets are starting to recover, according to the Bloomberg report, quoting the investment bank as stating: ''Therefore [Lehman Brothers Holdings] has determined in its business judgment that it would be advantageous to be prepared to sell the securities at prevailing market prices.''

Neuberger Berman's fixed-income division would be handling the sale, the filing said, according to the Bloomberg report.

Established in 1939, Neuberger Berman is a private, independent asset management firm. With around 1,600 employees, including more than 250 investment professionals, it provides a broad range of global investment solutions, including in equity, fixed income, and alternatives, to institutions and individuals through customized separately managed accounts and funds.

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