It pays to be in demand. New public filings show that Alvarez & Marsal earned $115 million in fees since taking over the restructuring of Lehman Brothers, following its bankruptcy in September 2008.
The restructuring is actually 20 different projects, requiring the full-time equivalent of 175 consultants, according to published sources. If the average A&M consultant working 55 hours per week on Lehman, the fees amount to a blended rate of about $300/hour. With assets of about $639 billion, Lehman is the biggest bankruptcy in U.S. history.
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