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Linklaters rakes it in from Lehman collapse

Linklaters has racked up an impressive £33 million ($68 million) in fees for its first six months' work on the Lehman Brothers bankruptcy - equivalent to £1.3 million a week.As…

user iconLawyers Weekly • 11 May 2009 • NewLaw
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Linklaters has racked up an impressive £33 million ($68 million) in fees for its first six months' work on the Lehman Brothers bankruptcy - equivalent to £1.3 million a week.

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As reported by legalweek.com, the hefty legal spend was revealed in a report released by Lehman administrator PricewaterhouseCoopers, which has itself notched up more than £77 million in fees over the same period.

Linklaters team comprises more than 300 lawyers, including 20 partners, and is headed up by restructuring chief Tony Bugg and banking partners David Ereira and Richard Holden.

A statement issued by Linklaters read: "This is the largest and most complicated bankruptcy in history, raising many novel legal issues. The demand for highly specialised, value-added legal advice has been immense, with a multi-jurisdictional, cross-practice team of more than 300 lawyers working around the clock on issues of unparalleled scale and complexity."

Other firms involved in aspects of the collapse include Freshfields Bruckhaus Deringer, Lovells and Weil Gotshal & Manges.

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