Lehman Ch. 11 Yields $40M Payout For Firms

Law360, New York (March 10, 2009, 12:00 AM EDT) -- Bankrupt Lehman Brothers Holdings Inc. on Tuesday said it has paid out more than $40 million in professionals' fees so far in its Chapter 11 proceedings.

That figure is likely to grow rapidly in coming days ahead of a March 15 deadline for initial fee applications, and it could ultimately approach or exceed $1 billion, experts say.

Tuesday's monthly operating report did not include bills paid to lead bankruptcy counsel Weil Gotshal & Manges LLP or several other major law, accounting or consulting firms working on...
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