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Survey Name: Bankruptcy Billing Rates
$ 849

The Bankruptcy Billing Rates project contains more than 13,000 rates charged in corporate restructurings by attorneys and staff practicing in 35 states and 24 countries.

These rates were culled exclusively from court documents submitted to the nation's two busiest bankruptcy courts the Southern District of NY and Delaware by firms seeking compensation for legal work done in Chapter 11 cases filed between Aug. 1 2008, and Aug. 31, 2009. Excluded is General Motors Case No. 09-50026 for which firms did not file for compensation with the court until after our research was completed.

Methodology/Sources:

Because the U.S. bankruptcy code requires that lawyers attest to their usual and customary hourly billing rates, we view the rates as reliable.

The rates offer a snapshot of what lawyers were charging in 2008 and 2009. Sometimes firms offer reduced rates and we account for the differences wherever identifiable. Lawyers often have left the firms where they are listed or have since made partner or retired.

Because firms adjust their rates at different times throughout the year, the listed hourly rate may not be current with the rates being charged by the date of publication. Some of the rates indicated may be a blended rate, although every effort has been made to avoid using blended rates. If court papers indicated a range of hourly rates for an attorney, the highest rate available was used.

We also included practice length, as reported to the court or found on firm Web sites. However, the attorneys may actually have more experience (i.e. the reported length may refer only to a specific jurisdiction), which is why we also included law school graduation year.

The spelling of names, use of initials, attorney title and home office location were entered in accordance with biographical information reported to the courts and available on firm Web sites, Martindale-Hubbell's list of attorneys and other professional websites.

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