Kirkland, Kutak Rock Unite Again in Toys 'R' Us Bankruptcy
The two firms, which have partnered up on Chapter 11 cases for Gymboree and Gordmans, have now submitted court papers showing how much they intend to charge—and have already been paid—for their roles representing another ailing retailer. Another bankrupt Kirkland client paid $47.5 million to the firm within the past year.
September 29, 2017 at 06:07 PM
7 minute read
Kirkland & Ellis and Kutak Rock, which have previously partnered up this year on Chapter 11 cases for Gymboree Retail Stores Inc. and Gordmans Stores Inc., have now submitted court papers showing how much they intend to charge—and have been paid—for their roles representing another ailing retailer.
Toys “R” Us Inc. filed for bankruptcy earlier this month in Richmond, Virginia, in an effort to restructure some $5 billion in debt. Kutak Rock is providing local counsel to Toys “R” Us, while Kirkland has grabbed the lead bankruptcy role for the Wayne, New Jersey-based toy retail giant.
Recent court filings show that Kirkland partners are billing Toys “R” Us between $930 to $1,745 per hour for their services; of counsel at hourly rates ranging from $555 to $1,745; and associates between $555 and $1,015 per hour. Kirkland bankruptcy partners Joshua Sussberg and Edward Sassower in New York are working with Chicago-based partners James Sprayregen, Anup Sathy and Chad Husnick in Chicago on the matter.
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