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Another Jewel in the Weil Bankruptcy Crown
The American Lawyer
August 07, 2009
Another week, another major retail company turns to Weil, Gotshal & Manges to guide it through bankruptcy. This time it's Finlay Enterprises, a jewelry retailer with 200 stores nationwide, including 77 in major department stores like Macy's.
Weil began representing Finlay in March 2008, and has billed the company about $1.3 million since then for advice on various restructuring efforts. Those efforts apparently failed, and now Finlay hopes to sell all or most of its assets through the Chapter 11 process.
(Finlay also has stand-alone stores that operate under the names Bailey Banks & Biddle, Carlyle & Co. Jewelers and L Congress, if that helps jog the memories of any readers who aren't exactly on the cutting edge of the fine jewelry market).
Partners and counsel on the case will bill between $650 and $950 per hour, while associate rates will range from $355 to $640 per hour, according to an affidavit from Weil partner Lori Fife filed in federal bankruptcy court in Manhattan Thursday afternoon.
Fife and Shai Waisman, who are leading the Weil team on the case, have been deeply involved in the Lehman Brothers bankruptcy as well.
This article first appeared on The Am Law Daily blog on AmericanLawyer.com.
