Posted on Tuesday, March 6th, 2012 at 7:09 pm
Lehman Brothers, the bank with the title of the largest bankruptcy in history, has ranked up a bill of $1.6 billion in fees and expenses as of January 31, 2012. In comparison, Enron, which is the second largest bankruptcy in history, had a bankruptcy bill of $793 million.
Lehman Brothers is expected to exit Chapter 11 bankruptcy protection this week after three years. Bondholders are expected to receive a total of $65 billion by recent estimates, with the first $10 billion to come in the next month and a half.
Its consulting firm Alvarez & Marsal has already collected $512 million in fees, the primary law firm representing Lehman will collect $383 million, and the law firm that represented its creditors has billed the company $133 million for their work.
If you or someone you know is struggling with Chapter 11 bankruptcy, contact the Chapter 11 bankruptcy lawyers of the Russell Van Beustring P.C. at 713-973-6650.