Nearly three years after its collapse threatened the global financial system, Lehman Brothers Holdings can still move markets. This time, it is the battered municipal-bond market.

The firm charged with winding down the estate of the bankrupt Wall Street firm has been looking to sell a portfolio that includes credit-default swaps on $8bn worth of municipal-bond debt in several states, according to court filings. The swaps - a form of insurance against default - were sold to Lehman by Warren Buffett's Berkshire Hathaway in 2007.