The historic Lehman Brothers bankruptcy has hit another milestone: $2 billion in fees paid to professionals. In a Thursday filing with U.S. Bankruptcy Court in Manhattan, Lehman said it has spent $160.8 million in fees since exiting from bankruptcy in March. Added to the $1.9 billion it incurred during its 42 months in bankruptcy, the failed investment bank has eclipsed $2 billion in fees paid. That’s the most in the nation’s history. Lehman previously stated that it incurred less than $1.8 billion in fees before leaving Chapter 11 protection in March but disclosed in the Thursday filing that the number increased by $132 million in recent months for several reasons, including the payment of incentive fees to professionals as well as approvals of older applications. [WSJ]
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The Bros Always Wins
Lehman Brothers Tops Failed Investment Bank League Tables
By Bess Levin
Bobby Benmosche, celebrating the fact that he’s survived an entire year to the day at AIG, an achievement no one saw coming. [WSJ]
