October 25, 2011 7:58 PM
The Bankruptcy Files: Money, Poultry, Power—and Murder Inc.
Posted by Brian Baxter
Corporate bankruptcy filings have dropped by an average of 3.2 percent per quarter in the roughly two years since they hit a 15-year peak in mid-2009, according to data released by the American Bankruptcy Institute and analyzed this week by sibling publication Corporate Counsel. Yet Am Law 100 firms continue to reap the benefits from the last bankruptcy wave.
Hughes Hubbard Reed filed papers last week with a U.S. bankruptcy court in Manhattan showing that the firm has collected some $169 million in connection with its role advising the trustee overseeing the liquidation of Lehman Brothers’ broker-dealer unit. The Hughes Hubbard tab on the matter stood at $107.8 million at this time last year, according to previous reports.
Meanwhile, the bankruptcy judge overseeing the ongoing liquidation of Bernard L. Madoff Investment Securities last week approved another $45.3 million in fees for Baker Hostetler, which, like Hughes Hubbard, is representing the trustee handling the process. Crain’s New York Business reported earlier this month that Madoff work “transformed” the
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