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Rates for top associates at firms such as Weil, Gotshal & Manges and Kirkland & Ellis are rising just as a new wave of Chapter 11s gathers steam. A filing shows J.Crew paid its lawyers at Weil close to $12 million in the 90 days before the company filed for bankruptcy this month.
May 22, 2020 at 04:00 PM
1 minute read
The original version of this story was published on The American Lawyer
The coronavirus pandemic quickly upended the economy and sent already struggling companies into free-fall, with retailers such as J.Crew, Neiman Marcus and J.C. Penney among those filing for Chapter 11 protection in recent weeks.
Recent court filings highlight the avalanche of fees these new cases are already generating for Big Law restructuring practices.
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