Legal News

Sidley Austin Charges $1100 Per Hour in Tribune Bankruptcy
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

It's raining moneySidley Austin lawyers are asking as much as $1,100 an hour for bankruptcy work on Tribune Company, surpassing the rates charged by Weil, Gotshal & Manges in the Lehman Brothers case.

Tribune, the Chicago-based newspaper publisher, filed for bankruptcy on December 8th.

The company sought court approval to pay Sidley’s bankruptcy group $575 to $1,100 an hour for partners, $400 to $875 an hour for counsel and senior counsel, $240 to $650 an hour for associates, and $95 to $385 an hour for paraprofessionals.

  
What
Where


“That’s the highest hourly rate I have seen or heard of for a bankruptcy lawyer,” said Lynn LoPucki, professor of bankruptcy law at the University of California Los Angeles.

Weil Gotshal partners charge $650 to $950 an hour on Lehman, which filed the biggest bankruptcy in history September 15th with $613 billion in debt.

In the year before its bankruptcy, Tribune paid Sidley almost $3 million in fees, plus $52,000 in expenses for restructuring work and preparation of filings. Those sums were taken out of advance retainers of $4.5 million.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




Via Bloomberg.





 

RELEVANT JOBS

Associate Attorney

USA-PA-Exton

ASSOCIATE ATTORNEY McKenna Snyder LLC, a law firm in Exton, PA has an immediate opening for an ex...

Apply now

Attorney

USA-MI-Sturgis

Qualifications: HaasCaywood is seeking associate attorneys for our Coldwater and Sturgis, Michiga...

Apply now

Attorney

USA-MI-Coldwater

Qualifications: HaasCaywood is seeking associate attorneys for our Coldwater and Sturgis, Michiga...

Apply now

Deputy General Counsel / Senior Deputy General Counsel

USA-CA-Sacramento

Cal Cities Culture and Mission Cal Cities is dedicated to creating a collaborative and inclusive ...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Education Law Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with ...

Apply Now

Education Law Attorney

USA-CA-Carlsbad

Carlsbad office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with 4-...

Apply Now

Education Law and Public Entity Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law and public ent...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top