Lehman bankruptcy advisers paid $641.9m
Bankruptcy
Alvarez & Marsal LLC, the liquidator of bankrupt Lehman Brothers Holdings Inc., has collected $233 million in fees for “interim management” over 16 months, according to a regulatory filing.
The restructuring firm, which provided Lehman with its current chief executive officer, Bryan Marsal, has made more than any other adviser of the investment bank since the September 2008 bankruptcy filing, according to a Feb. 19 report with the Securities and Exchange Commission. Lehman said it paid all its lawyers and advisers $641.9 million through January.
Lehman’s payments to advisers haven’t faced major challenges like those in the case of bankrupt automaker Chrysler LLC, which is using U.S. Treasury loans to wind itself down. On top of reported fees, Marsal’s firm has started earning a so- called “success fee” that can run to 25 percent of the amount the firm gets for dismantling New York-based Lehman over the life of the case, according to court documents.
Related listings
-
Court Clears 'Florida Times-Union' Parent to Exit Bankruptcy
Bankruptcy 02/18/2010Morris Publishing Group's reorganization plan was confirmed in U.S. Bankruptcy Court in Augusta, Ga. Wednesday, clearing the way for the parent of The Florida Times-Union in Jacksonville and a dozen other dailies to emerge from bankruptcy as soon as ...
-
Movie Gallery in Chapter 11, closing stores
Bankruptcy 02/03/2010The nation’s second largest video chain submitted a Chapter 11 petition to the bankruptcy court in Richmond yesterday. Movie Gallery, which also owns Hollywood Video, has headquarters in Oregon.Movie Gallery owns 16 locations in the Richmond area, an...
-
Extended Stay court examiner seeks more time
Bankruptcy 02/01/2010Ralph Mabey, a former bankruptcy judge who was appointed as the examiner, said he was seeking an additional 21 days to conduct the investigation, as he has had some difficulty in obtaining necessary witnesses, documents and other information that he ...
Victorville CA DUI defense Attorneys
The outcome of a DUI defense will have a long-term effect on anyone’s life, making the decision to receive legal representation an easy one. The fact is, most people accused of a DUI are first offenders with no criminal background. Whether this is your first run in with the law or you have had previous convictions, you are in need of a DUI defense attorney.
The charges you are facing for a DUI range from fines, a 12-month suspension on your license and worst-case scenario, prison time. Your attorney will be able to analyze your situation to decide the best way to go about your case.
Our attorneys know the tricky ways to challenge all of the DUI tests and know how to claim improper collection of evidence. We will be able to negotiate on your behalf and free you from charges and help you keep your drivers license. The DUI process can last up to several months, we can make this process easier on you. .