Big Law Bills More Than $160 Million in Puerto Rico's Bankruptcy
At least one-fourth of the Am Law 100 are working on Puerto Rico's $100 billion restructuring.
July 11, 2019 at 12:15 PM
6 minute read
Roughly 45 firms working on Puerto Rico's debt restructuring, including top-tier firms such as Proskauer Rose, Norton Rose Fulbright, DLA Piper and Greenberg Traurig, have billed more than $400 million collectively in the two years since the restructuring began.
Firms in the Am Law 100 account for more than $160 million in fees and expenses.
Analysts estimate the total amount of debt tied to Puerto Rico's restructuring totals more than $100 billion, far exceeding the second-largest municipal reorganization—Detroit—estimated at $18 billion.
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