ONE law firm on Lehman bankruptcy is billing...

[johnfm]

...£195k per day!!

Christ on a bike!

At £500/hr, that's 40 senior fee earners doing 10 hr days, every day!!

Either it is very very very complex or they're milking it a bit...

http://www.legalweek.com/legal-week/news/1593163/n...

[johnfm]

I expect it brings a new meaning to 'eat what you kill'! I think they may get a bonus this year.

[johnfm]

I expect it brings a new meaning to 'eat what you kill'! I think they may get a bonus this year.

[Jasandjules]

I am sure the insolvency people are making enough as well......

[Trommel]

I bet they're working for it. I imagine it's a nightmare.

[anonymous-user]

Lehman Bankruptcy Advisers Paid $641.9 Million in 16 Months
2010-02-20 05:01:01.200 GMT


By Linda Sandler
Feb. 20 (Bloomberg) -- Lehman Brothers Holdings Inc., the
investment bank liquidating in bankruptcy, paid its lawyers and
other advisers $641.9 million in 16 months since September 2008,
according to a regulatory filing.
The restructuring firm Alvarez & Marsal LLC, which provided
Lehman with its current chief executive officer, Bryan Marsal,
led the payments with $233 million in fees for “interim
management” through January, according to the filing yesterday
with the U.S. Securities and Exchange Commission.
Weil Gotshal & Manges LLP of New York collected
$149.5 million for acting as the investment bank’s lead
bankruptcy law firm. Milbank Tweed Hadley & McCloy LLP got
$42.4 million for advising Lehman’s creditors’ committee.
Lehman and its affiliates reported cash holdings of
$17.6 billion on Jan. 31, an increase from $17.2 billion a month
earlier.

[hornetrider]

Trommel said:

I bet they're working for it. I imagine it's a nightmare.

Oh a nightmare for the poor lambs. On 500 quid a fking hour.

[mrmr96]

hornetrider said:

Trommel said:

I bet they're working for it. I imagine it's a nightmare.

Oh a nightmare for the poor lambs. On 500 quid a fking hour.

The staff don't get £500/hr. but I guess you know that.

[Soovy]

hornetrider said:

Trommel said:

I bet they're working for it. I imagine it's a nightmare.

Oh a nightmare for the poor lambs. On 500 quid a fking hour.

The firm gets that, or more likely £750 an hour for tax advice.

And you wouldn't want to work in one of these firms. I have. Tonker does.

Edited by Soovy on Thursday 25th February 15:06

[southendpier]

Soovy said:

hornetrider said:

Trommel said:

I bet they're working for it. I imagine it's a nightmare.

Oh a nightmare for the poor lambs. On 500 quid a fking hour.

The firm gets that, or more likely £750 an hour for tax advice.

And you wouldn't want to work in one of these firms. I have. Tonker does.

Edited by Soovy on Thursday 25th February 15:06

Why? what's wrong with working with Tonker?

[Soovy]

southendpier said:

Soovy said:

hornetrider said:

Trommel said:

I bet they're working for it. I imagine it's a nightmare.

Oh a nightmare for the poor lambs. On 500 quid a fking hour.

The firm gets that, or more likely £750 an hour for tax advice.

And you wouldn't want to work in one of these firms. I have. Tonker does.

Edited by Soovy on Thursday 25th February 15:06

Why? what's wrong with working with Tonker?

[hornetrider]

southendpier said:

Soovy said:

hornetrider said:

Trommel said:

I bet they're working for it. I imagine it's a nightmare.

Oh a nightmare for the poor lambs. On 500 quid a fking hour.

The firm gets that, or more likely £750 an hour for tax advice.

And you wouldn't want to work in one of these firms. I have. Tonker does.

Edited by Soovy on Thursday 25th February 15:06

Why? what's wrong with working with Tonker?

Jesus - can you imagine?

They'd be on a few hundred an hour though - what, around 2k/day? I'd let Tonks bumrape me at his behest for that, don't tell me I wouldn't want to work there.

[Soovy]

hornetrider said:

southendpier said:

Soovy said:

hornetrider said:

Trommel said:

I bet they're working for it. I imagine it's a nightmare.

Oh a nightmare for the poor lambs. On 500 quid a fking hour.

The firm gets that, or more likely £750 an hour for tax advice.

And you wouldn't want to work in one of these firms. I have. Tonker does.

Edited by Soovy on Thursday 25th February 15:06

Why? what's wrong with working with Tonker?

Jesus - can you imagine?

They'd be on a few hundred an hour though - what, around 2k/day? I'd let Tonks bumrape me at his behest for that, don't tell me I wouldn't want to work there.

Newly qualifieds (at 24) are on £100k at US firms in London. Plus bonus.

They are OWNED by the firm though. Trust me.

[hornetrider]

Soovy said:

They are OWNED by the firm though. Trust me.

I know, I've seen Devil's Advocate

Soovy said:

Newly qualifieds (at 24) are on £100k at US firms in London. Plus bonus.

I'm not on that with 10 years industry specific experience. So yes, I would take the reaming. Then get out.

Anyway, major thread diersion. Carry on.

[Trommel]

There are many easier ways of earning £100k.

[Greg_D]

hornetrider said:

Soovy said:

They are OWNED by the firm though. Trust me.

I know, I've seen Devil's Advocate

Soovy said:

Newly qualifieds (at 24) are on £100k at US firms in London. Plus bonus.

I'm not on that with 10 years industry specific experience. So yes, I would take the reaming. Then get out.

Anyway, major thread diersion. Carry on.

you seem awfully keen to get bummed, almost champing at the bit. Maybe a change of handle (fnar fnar) to horneyrideme is in order!!!!!

Greg