October 10, 2008
Lehman Bros. Attorneys File Employment Application
The Employment Application of Weil, Gotschal & Manges, LLP can be accessed here. The rates don't seem too out of whack - $650 to $950 for partners. What jumped out at me is the disclosure that Lehman paid the firm $51 million in fees in the last year to handle various problems. They also received a $5 million retainer which seems reasonable. They also seem to have about 50 conflicts. Usually that is a big deal but it's probably impossible to find a firm with the wherewithal to do the bankruptcy work who does not also have conflicts.
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