Vultures feed on Chrysler at a grand per hr - Mercedes-Benz Forum

 
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post #1 of 1 (permalink) Old 05-01-2009, 01:52 PM Thread Starter
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Vultures feed on Chrysler at a grand per hr

What a frenzy !!

I mean , how difficult is it to disband one company ?


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About now, as our thoughts frankly turn to the weekend, we feel a pang of sympathy for the Chrysler bankruptcy team at Jones Day. They have so many miles to go before they sleep.

But, at least, they are well paid for the troubles. The Dealscape blog has a nice post spelling out just how well paid they are.

Based on court filings, Jones Day partner John Cornell will be billing $950 per hour. He specializes in employee benefits, a legal topic that we’re guessing will get a bit of a workout in the Chrysler case.

Corinne Ball, (pictured) the head debtor’s counsel, and her colleague David Heiman, each clock in at $900 per hour. All told, 18 Jones Day partners are working on the case.

So how do these impressive billing rates rank in the grand bankruptcy scheme of things?

Cornell, according to Dealscape, does not even rank in the top 15 fee earners in the bankruptcy bar, a list that includes Mark Thompson (Simpson Thacher) at $980 per hour and Jonathan Landers, who used to bill out at $955 per hour at Gibson Dunn.

For those keeping score at home, Dealscape reports that Cornell’s billing rate is on par with Harvey Miller at Weil — who’s billing $950 an hour in the Lehman case — and Martin Bienenstock at Dewey LeBoeuf.
The Jones Day Bankruptcy Billing Machine - Law Blog - WSJ
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