There were two programs that excelled in converting objects and scenes from lightwave to other formats. It was a long time though, so I probably forgot much of details and features.
Anyway, they were really good back then: MagicLink 3.2a (came with Cinema4D 4.x) , and Interchange Plus (by Sydnesis Corporation, or something like that) which was sold in various flavors, depending on the formats it supported (version 3.x was the latest).