This is a research paper.
The assessment requires you to apply the knowledge and analytical skills learned on the module to a real-life case of significant importance. You should consider the wide variety of corporate governance mechanisms covered in the module and the role they played at Lehman.
Assume the reader know about what happened to lehman brothers and do not need to explain too much on technical terms unless needed e.g. audit committee, board of directors. Please add up more critical discussion on facts.
Apply knowledge and fact. For certain governance problems, you could apply theory and discuss it.