$233M to Lehman’s liquidator

Alvarez & Marsal, the liquidator of bankrupt Lehman Brothers Holdings, has collected $233 million in fees for “interim management” over 16 months, according to a regulatory filing.

The restructuring firm, which provided Lehman with its current chief executive officer, Bryan Marsal, has made more than any other adviser of the investment bank since the September 2008 bankruptcy filing, according to a Feb. 19 report with the Securities and Exchange Commission. Lehman said it paid all its lawyers and advisers $641.9 million through January.

Lehman, once the fourth-biggest investment bank, is liquidating in bankruptcy to pay creditors. It filed the biggest US bankruptcy in September 2008 with assets of $639 billion. Creditors include UBS, the New York Giants football team and the Abu Dhabi Investment Authority.