Kirkland Secures $56M in Fees for Toys R Us Bankruptcy
A battalion of Kirkland lawyers—105 partners, two of counsel and 131 associates—put in more than 57,000 hours to restructure the toy retailer's debts.
June 10, 2019 at 06:21 PM
2 minute read
More than 100 Kirkland & Ellis partners, and about 240 firm lawyers overall, billed time in the Toys R Us bankruptcy proceedings, netting the law firm more than $50 million.
A judge on Friday approved $56.2 million in fees requested by Kirkland, according to an order filed in the Eastern District of Virginia. Kirkland billed for 57,237.30 hours of work as debtor's counsel over nearly a year and a half in the toy retailer's Chapter 11 bankruptcy proceedings.
Toys R Us filed for bankruptcy in September 2017, marking the latest in a string of brick-and-mortar retail failures in the online shopping era. The company retained Kirkland to restructure its nearly $5 billion in debt, as previously reported by The American Lawyer. Kutak Rock, Goodmans and Munger, Tolles & Olson landed roles in the case.
In all, 105 partners, 131 associates and two of counsel from Kirkland billed time on the case between the September 2017 bankruptcy filing and Dec. 17, 2018. Its partner billing rates for the work ranged from $565 an hour to $1,795, according to the firm's final fee application.
Seven partners and five associates billed more than $1 million each, and two partners in the restructuring department—Emily Elizabeth Geier and Josh Sussberg—each billed for more than $3 million.
Of everyone working on the case, Geier billed the most hours—3,194—and ran up the highest fees—$3,302,795. She also put in nearly 135 hours working on the case as an associate, billing an additional $135,000.
Despite Kirkland's hefty fee award, the firm's final tally came in far below the $79 million to $88 million it said it budgeted for the matter, according to court documents.
Kutak Rock was also granted its fee application for its role working as local counsel with Kirkland, to the tune of $1.4 million.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllFrom ‘Deep Sadness’ to Little Concern, Gaetz’s Nomination Draws Sharp Reaction From Lawyers
7 minute readDechert 'Spark Tank' Competition Encourages Firmwide Innovation Focus
Akerman Opens Charlotte Office With Focus on Renewable Energy, Data Center Practices
4 minute readTrending Stories
- 1The Growing PFAS Morass: Why Insurance Should Cover These Products Liability Claims
- 2Dallas Jury Awards $98.65M in Botham Jean Killing by Dallas Officer
- 3In Talc Bankruptcy, Andy Birchfield Skipped His Deposition. Could He Face Sanctions?
- 4Pharmaceutical Patents: Benefits and Challenges
- 5Where Do Web-Tracking Class Actions Belong? 8th Circuit Weighs the Issue
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250