The Pension Benefit Guaranty Corp. is objecting to the planned sale of Lehman Brothers' investment unit to Neuberger Berman managers. In papers filed Wednesday at the U.S. Bankruptcy Court in Manhattan, the government-charted private pension insurer asked Judge James Peck to reject the transaction because it would wipe out pension liabilities of Lehman subsidiaries, The Wall Street Journal reported.

Lehman is slated to ask Judge Peck to greenlight the sale at a hearing on Monday. 

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