Question-and-Answer Session
Operator
All right. Thank you. We will now open the conference for questions and answers from institutional investors and research analysts. (Operator instructions) And our fist question comes from Richard Shannon with Northland Securities.
Richard Shannon – Northland Securities
Hi, everybody. How are you?
Betsy Braham
Good afternoon, Richard.
Richard Shannon – Northland Securities
Let’s see here, a couple of questions I might jump in and out of some of your businesses here. But I guess, first of all, in corporate restructuring on your chapter 11, it looks by my numbers, if I’m doing my analysis correct that your chapter 11 business grew a little in the third quarter sequentially. Have I done my math correct here?
Betsy Braham
Richard, as you know, we do not disclose specifically relative to how each of the individual chapters of business have changed from period to period. But clearly as we look at the increased retentions, you should be able to draw that conclusion. That during the third quarter and as we look into future periods that it has growth from them.
Richard Shannon – Northland Securities
Okay. All right. And I guess, specifically in the Lehman Brothers case here, can you give us a sense of in terms of magnitude how much this could benefit the bankruptcy business in the fourth quarter, maybe compare it to previous large cases that you’ve done in past cycles.
Chris Olofson
Yes. Richard, usually the only thing we say and we have to be very, very judicious in any comments on individual cases for a lot of good reasons, but what we would say is simply this. It is clearly a substantive multi-million dollar matter that will go on in a multiple year basis. And other than that, candidly, we’re really not able to make any additional comments. But if you’ll simply be aware of the $600 billion in assets, and it’s been in the newspapers on a very, very frequent basis, I think that you can see that it’s a complex sizable case. And we were very pleased to be retained in that matter.
Richard Shannon – Northland Securities
Okay. Maybe a couple of quick questions on the Trustee business, you said you signed up some new trustees during the quarter. Will these basically share a gain against your largest primary competitor?
Chris Olofson
Typically when we sign a new trustee it is a replacement bail against the competitor.
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