Lehman Seeks To Pay Weil Up To $950 Per Hour

Law360, New York (October 9, 2008, 12:00 AM EDT) -- Lehman Brothers Holdings Inc. has asked to retain Weil Gotshal & Manges LLP as counsel in its bankruptcy at the firm's usual billing rates, which can be as high as $950 per hour.

In an application filed Wednesday in the U.S. Bankruptcy Court for the Southern District of New York, Lehman said that Weil Gotshal, which has represented the bank in financial matters for 24 years and is already working on the bankruptcy, is uniquely qualified to serve as its counsel.

“The debtors have selected WGM...
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