April 16, 2009
Fees In Lehman Bros Near $100 million for First Five Months
From my friend and fellow bankruptcy lawyer, Steve Fox:
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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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.
Posted by: Laser Haas | Apr 17, 2009 11:15:47 AM