The latest Lehman Brothers bill is in, and the total dollar amount the bankrupt estate has paid out to financial advisers and law firms is approaching $750 million and might possibly be on its way to $1 billion, according to documents Lehman filed Thursday with the SEC and this Bloomberg article.
The rate of law firm billing has actually slowed down a bit since the last time we checked. Through January 2010, law firms had billed about $311 million of the $649 million total paid out to advisers since Lehman filed for Chapter 11 protection on Sept. 15, 2008. Over February and March of this year, the total bill jumped by about $82 million to $731 million, with law firms accounting for just $20 million of the increase in those two months, according to the SEC documents. The total law firm bill is now up to $331 million.
