According to The American Lawyer, we may have to scan the dockets of the largest bankruptcies in recent US history to see if any of them produced so much legal work as quickly as the Lehman Brothers Chapter 11 has since the bank filed for bankruptcy almost exactly 11 months ago. To wit: Weil, Gotshal & Manges filed its second application for legal fees and expenses late Monday, and, if approved, the firm will have crossed the $100 million mark in total billings if one includes so-called hold back payments the court will distribute at a later date.
The second application covers four months -- Feb. 1 through May 31-- and it comes just a few days after Judge James Peck of federal bankruptcy court in Manhattan approved Weil's initial request for about $55 million in fees and expenses for the period of Sept. 15, 2008 through January of this year. As the Wall Street Journal reported Monday, that application got the approval of not only Peck, but also a special fee committee headed up by Kenneth Feinberg (the Obama administration's pay czar). |
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