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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.   

October 10, 2008 in Current Affairs | Permalink


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