Weil Gotshal & Manges received a $5m (£3m) advance in September from Lehman Brothers Holdings for work leading up to the bank’s bankruptcy filing, according to court documents made public on Wednesday, reports the Am Law Daily.
Lehman reportedly retained Weil Gotshal on 10 September. Five days later, Lehman filed for bankruptcy. Lehman paid the firm a $5m advance to cover legal fees and expenses arising from Lehman’s negotiations and efforts to remain in business and to prepare for the possibility of the Chapter 11 filing if negotiations failed.
