A recent AM Law Daily story, “As Lehman Exits Bankruptcy, Weil’s Tab Stands at Nearly $383 Million,” reports that Weil, Gotshal & Mange’s business finance and restructuring group has been busy the past three years with Chapter 11 cases for fallen financial service giants Lehman Brothers and Washington Mutual.  In March, Lehman Brothers emerged from bankruptcy more than three years after the abrupt collapse of the New York-based investment banking giant in Sept. 2008 forced Weil to help one of the biggest clients quickly put together the largest Chapter 11 case in U.S. history.

A monthly operating report filed by the Lehman estate with the SEC shows that its total bankruptcy bill for outside lawyers, accountants, and other restructuring professionals reached almost $1.6 billion, not too far off the $1.4 billion that Bloomberg estimated it would pay external advisers three years ago.  Of that amount Weil has been paid nearly $383 million in fees and expenses through January—the firm billed another $7.4 million that month—for its work as lead debtor’s counsel.

Milbank, Tweed, Hadley & McCloy, lead counsel to Lehman creditors, has received almost $133.7 million in fees and expenses for its work.  Lehman’s special litigation counsel Jones Day ($61.2 million). Conflicts counsel Curtis Mallet-Prevost, Colt & Mosle ($42.5 million), and special tax counsel Bingham McCutchen ($21 million) have also reaped the rewards of landing roles in the Chapter 11 case, which has seen more than 30 law firms bill the bankruptcy estate.