Weil Earned $54M from GM Before Bankruptcy Filing
General Motors has paid three law firms $80 million for work leading up to its bankruptcy filing.
The biggest fee earner was Weil, Gotshal & Manges, which racked up $54 million in fees and expenses in the six months leading up to the filing, the Wall Street Journal (sub. req.) reports. Its hourly fees range from $355 to $640 for associates, and from $650 to $950 for partners, the Am Law Daily reports, relying on a court document (PDF posted by the Wall Street Journal). Weil is seeking approval to serve as lead bankruptcy counsel.
Other firms earning big fees are Honigman Miller Schwartz and Cohn, paid $15 million for a year of work, and Jenner & Block, paid $11 million. Honigman is special counsel to GM, and Jenner is general corporate and conflicts counsel, according to the Am Law Daily.
