July 23, 2010

Lehman Legal Fees Approaching $400 Million

by Brian Baxter
The American Lawyer

Just how much are bankruptcy lawyers and advisers making in the ongoing Lehman Brothers bankruptcy?

Bloomberg reports that the $873.1 million in fees billed since the case was filed in September 2008 would quadruple the annual payroll of the New York Yankees. According to a Thursday filing by the Securities and Exchange Commission, 17 law firms collectively will bring in at least half that amount, with almost $396.7 million being paid out by the debtor in the largest bankruptcy case in U.S. history.

Read the complete story (Some news sites require registration)