Fifteen law firms have billed the Lehman Brothers estate more than $300 million in total fees and expenses since Lehman filed for bankruptcy in September 2008. By almost any standard, that’s a lot of money. But the cash pouring in hasn’t stopped the key firms involved from protesting aggressively when the fee committee monitoring the case moves to slash their bills, even if the proposed cuts amount to a fraction of a percent of the firms’ requests.
The fees dispute gained momentum last week when three firms – Milbank Tweed Hadley & McCloy, Jones Day and Curtis Mallet-Prevost Colt & Mosle – filed papers protesting the Lehman fee committee’s reductions of their bills for June 1-Sept. 30, 2009. The cuts are small in the context of the total billings to date in the Lehman matter.
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