GM Bankruptcy Lawyers Asking For $127M In Legal Fees
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There is no doubt that the 40-day bankruptcy and government-sponsored restructuring of General Motors was something exceptional. And the legal team responsible for the proceedings knows it, too. In total, all parties involved are asking for a combined $127 million in legal fees, with $46.1 million charged by Weil, Gotshal & Manges LLP, the lead bankruptcy law firm involved in the proceedings.
In case you were wondering, the average billing rate for all of the lawyers was $602 an hour, with some charging as high as $1,000 for 60 minutes of their time.
Source: The Detroit News
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