Law GovLaw Gov

    Subscribe to Updates

    Get the latest legal news from from all around the world directly to your inbox.

    What's Hot

    Associates Say Silence on Partnership Criteria Breeds Anxiety and Resentment

    August 14, 2022

    Read the Document: Judge Unseals Trump Search Warrant

    August 13, 2022

    Longstanding Linklaters, Allen & Overy German Partner Dies at 60

    August 13, 2022
    Facebook Twitter Instagram
    Law GovLaw Gov
    • Privacy Policy
    • Guest Post
    • Terms
    • Contact
    Facebook Twitter Instagram
    SUBSCRIBE
    • Home
    • News
    • Law Firms
    • Legal Technology
    • Law Practice
    • Litigation
    • Regulation
    Law GovLaw Gov
    Home » As Billing Rates Skyrocket, Historic Fee Leaders Find Company at $2,000 Per Hour

    As Billing Rates Skyrocket, Historic Fee Leaders Find Company at $2,000 Per Hour

    July 29, 20221 Min Read Law Practice
    Facebook Twitter Pinterest LinkedIn Reddit WhatsApp
    Share
    Facebook Twitter LinkedIn Pinterest WhatsApp Email

    In the past few decades, four law firms—Weil, Gotshal & Manges; Kirkland & Ellis; Skadden, Arps, Slate, Meagher & Flom; and Latham & Watkins—have represented close to one-third of large public companies in Chapter 11 bankruptcy proceedings. For their services, the firms have traditionally charged higher rates than other large firms with less extensive bankruptcy practices. But their fee dominance may be beginning to wane.

    Last year, the average rate for top-billing partners among the four historically dominant firms was $1,838. By comparison, top-billing partners among a group of seven Am Law 100 firms with smaller restructuring practices averaged $1,674. This year, not only are rate hikes up across the board—our total group of 11 firms raised rates an average of 12.3% in 2022 versus 5.3% in 2021—but Big Law’s other bankruptcy practitioners are catching up with the leaders, drawing even and in some cases surpassing the rates in the top four.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Associates Say Silence on Partnership Criteria Breeds Anxiety and Resentment

    August 14, 2022

    Read the Document: Judge Unseals Trump Search Warrant

    August 13, 2022

    New York Law Journal Announces Its 2022 Rising Stars

    August 13, 2022

    What Impact Will the Downturn Have on Legal Hiring, and What Can You Do To Prepare?

    August 12, 2022

    Court Pulls Info for Judge Bruce Reinhart, Who’s Believed to Have Signed Warrant for Mar-a-Lago Search

    August 12, 2022

    Are Clients ‘Ghosting’ More Law Firms? It’s Complicated

    August 12, 2022

    Leave A Reply Cancel Reply

    Don't Miss
    Law Practice

    Read the Document: Judge Unseals Trump Search Warrant

    Francesco MazzagattiAugust 13, 20220

    A federal judge unsealed a search warrant executed on former President Donald Trump’s West Palm…

    Longstanding Linklaters, Allen & Overy German Partner Dies at 60

    August 13, 2022

    New York Law Journal Announces Its 2022 Rising Stars

    August 13, 2022

    What Impact Will the Downturn Have on Legal Hiring, and What Can You Do To Prepare?

    August 12, 2022

    Subscribe to Updates

    Get the latest legal news from from all around the world directly to your inbox.

    Our Picks

    Court Pulls Info for Judge Bruce Reinhart, Who’s Believed to Have Signed Warrant for Mar-a-Lago Search

    August 12, 2022

    Are Clients ‘Ghosting’ More Law Firms? It’s Complicated

    August 12, 2022

    KSB Advises JTZE on Poline Acquisition

    August 12, 2022

    Freshfields Ups In-Office Requirements in Agile Policy Rethink

    August 12, 2022
    Law Gov
    Facebook Twitter Instagram Pinterest
    • Privacy Policy
    • Contact
    • Guest Post
    • Terms & Conditions
    © 2022 Law Gov. All rights reserved. Developed by Sawah Dev.

    Type above and press Enter to search. Press Esc to cancel.