Two Top Law Firms Disclose Billing Rates in Lehman Filings

Billing rates for top lawyers at two law firms involved in the Lehman Brothers bankruptcy are $950 an hour, according to disclosure papers filed with the court.

The two firms making the disclosure are Milbank, Tweed, Hadley & McCoy and Quinn Emanuel Urquhart Oliver & Hedges, the Am Law Daily reports.

Milbank’s top partners bill from $700 to $950 an hour, of counsel bill from $650 to $850, and associates and senior lawyers bill from $275 to $670, according to the disclosure document (PDF posted by the Am Law Daily).

Partners at Quinn Emanuel bill from $660 to $950, according to its disclosure (PDF filed by the Am Law Daily). Other lawyers, including of counsel, bill from $380 to $950.

Milbank is seeking to represent the official committee of unsecured creditors, and Quinn Emanuel is seeking to serve as special counsel to the committee if Milbank has a conflict, the AmLaw Daily says.

Milbank disclosed it has represented Lehman on “various matters” in the past, but it received a waiver to represent creditors of the investment bank.