The Lehman Brothers bankruptcy case is a gold mine for McKenna Long & Aldridge.
The Atlanta law firm on Friday asked the U.S. Bankruptcy Court for the Southern District of New York to approve its bill for $631,156. McKenna also asked approval for $35,620 in expenses. The bill covers the period from Sept. 15 to Jan. 31.
McKenna is special counsel to Lehman on its Chapter 11 case. The law firm has represented Lehman for more than 15 years, according to a document filed in December by partner Charles Weiss. McKenna has advised Lehman on more than 230 matters, including real estate mezzanine financings, mortgage loan originations, loan workouts, creditor’s rights issues and commercial litigation.
In the Chapter 11 case, McKenna said it’s handling a variety of assignments, such as pursuing claims, representing Lehman in bankruptcy matters in other courts, analyzing loan documents and several other real estate matters.
McKenna has assigned 24 attorneys to the investment bank’s Chapter 11 case, including 19 from Atlanta. McKenna also billed for paralegals, a financial consultant, a librarian and a litigation analyst.
Partner Mark Kaufman [photo, right] submitted the highest bill, for $163,476. Kaufman billed for 286.8 hours at an hourly rate of $570. New York-based partner Christopher Graham had the highest hourly billing rate, at $700.
Other Atlanta-based McKenna lawyers working on the matter are partners David Geiger, Gary Marsh and Patrick McGeehan, senior counsel Thomas Hall and associates Summer Chandler, David Gordon and Alison Elko.
McKenna’s filings with the bankruptcy court reveal a wealth of information about the work the firm has handled for Lehman Brothers. The matters on which McKenna has advised Lehman that aren’t litigation-related include:
A $44 million mortgage loan on undeveloped land in Arizona. The loan is in a workout proceeding.
A workout loan for condominiums in Charlottesville, Va.
Sales and disputes related to a condominium homeowners’ association in Dallas.
Renegotiating the terms of a loan associated with Harbor View Hotel on Martha’s Vineyard, Mass.
Coordinating the foreclosure of real estate in Aspen, Colo.