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Legal Fees Could Dive in M&A Downturn

Posted Oct 3, 2007 8:11 AM CDT
By Debra Cassens Weiss

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Lawyers at firms specializing in mergers and acquisitions fear premium law-firm billing will dry up along with the M&A work that included such fees.

Such billing—essentially a tip for a job well done—helped law firms reap record profits, the New York Times reports in an article by David Lat, author of the Above the Law blawg.

“Since the credit market began to tighten this summer, an event that brought new deals to a crawl and has upset several old ones, many lawyers have been wondering whether the premium party is over, or whether it has taken merely a short pause,” Lat writes.

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