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April 16, 2009

Fees In Lehman Bros Near $100 million for First Five Months

From my friend and fellow bankruptcy lawyer, Steve Fox:

Dear Jon:

The WSJ bankruptcy blog has a reference to the fee/expense applications by the attorneys and other professionals in the Lehman Bros. case.  The focus is on the fees.  The expenses are pretty high, including one for over $1,000,000 by Debtor’s counsel.  I don’t know about you but I can’t imagine carrying that kind of expenses in house waiting for reimbursement.  Here is the link.  For the Milbank firm, take a look at this link.  Many of the associates’ billing rates are double my rates including a couple of associates recently admitted to practice.  Talk about feasting on a dead cow in the road.

April 16, 2009 | Permalink

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Comments

We were all recently snowed as well by the Tribune fee deal. The counsels put in for fees of over $1000 per hour and the Court reigned them in (being wise guy here) - and reduced that to $930.

Setting a new fee base of 30% higher than any level previously set.

This country's citizens have lost control of its Judiciary and System of Justice.

For the only way to hold them accountable for their actions - is to ask them for permission to Object.

Absurdia 101

Posted by: Laser Haas | Apr 17, 2009 11:15:47 AM

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