$1,000 per hour used to be the benchmark few were willing to cross – and that was during the heady days of 2007.
In those days the list was reserved for big shot litigators and private-equity specialist, but these days bankruptcy attorneys — or those modifying their usual practice to include bankruptcy work – are expanding this upper-echlon in a big way.
The American Lawyer writes today about a database compiled by their owner, ALM Media. The database includes the 13,000 billing entries submitted to bankruptcy courts in Delaware and the Southern District of New York from August 2008 to August 2009 — a very busy period for the nation’s two busiest bankruptcy courts.
The article discussed the Am Law 200 firms who submitted bills for lawyers billing $1,000 an hour or higher – 12 big firm lawyers in total. (The prize for highest billing rate actually goes to solo practitioner Alan Harris in Pleasantville, NY, who charged $1,200 for his work on the Digital Printing Systems bankruptcy, Am Law noted.)
There are some heavies left off this list, including the king of all bankruptcy attorneys, Weil’s Harvey Miller; he’s charging $950 for his work on the Lehman and BearingPoint bankruptcies.
Click here for The American Lawyer’s article, including detail about the attorneys’ specific practices and contributions.
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