The fall of Lehman has been quite a boon to Weil Gotshal’s business.
The bankrupt financial firm’s latest regulatory filing reveals that Weil Gotshal has earned $149.5 million since September 15, 2008. As lead counsel, they have received the largest chunk of cash, but with the other law firms working on the proceedings, the total fee outlay is now up to $310,791,000 as tallied by Zach Lowe at Am Law Daily.
Looking more closely, 504 days passed between the date they filed for bankruptcy and January 31’s filing. That means Weil Gotshal has earned $296,631 per day, or about $12,000 per hour, for the last sixteen months.
That brings a whole new meaning to working around the clock! We hope those attorneys at Weil not working on the Lehman bankruptcy are reminding their compatriots to head outside every once in a while.
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