Courtesy photo Phila., Del. Firms Handling UArts' Ch. 7 Petition Fall Far Below Top Bankruptcy Rates
Fox Rothchild's Michael Menkowitz, formerly the firm's financial restructuring and bankruptcy chair, has the highest rate among all the attorneys listed on the matter, bringing in $1,160 per hour.
October 14, 2024 at 12:58 PM
3 minute read
What You Need to Know
- The law firms acting on behalf of the University of the Arts in its bankruptcy proceedings are charging around a third of Big Law bankruptcy rates.
- Senior partners in the Am Law 50 are inching ever closer to charging $3,000 per hour according to several bankruptcy dockets; the firms involved with UArts, however, are hovering around $1,000 per hour for their work.
Restructuring work at one Philadelphia-based Am Law 100 firm is proving far less lucrative than bankruptcy matters handled by some of the highest charging firms in the country.
Fox Rothschild, ranked No. 72 in the most recent Am Law 100 rankings, was brought on by the Alfred Giuliano, the trustee handling the Chapter 7 proceedings for Philadelphia's University of the Arts, which shuttered abruptly this spring.
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