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Lehman Adviser Fees Reach $961 Million Through August

Lehman Brothers Holdings Inc., the investment bank in bankruptcy since September 2008, has paid lawyers and advisers working on the case $961.3 million through August.

Restructuring firm Alvarez & Marsal LLC, which is running Lehman, earned $16.4 million in August, bringing the total the firm has earned to $342.4 million, according to an August operating report filed today in U.S. Bankruptcy Court in Manhattan.

Weil Gotshal & Manges LLP, Lehman’s lead bankruptcy law firm, collected $8.6 million in August and $220.9 million total for its work on the case. Milbank Tweed Hadley & McCloy LLP, the law firm representing Lehman’s unsecured creditors, was paid $69.3 million through August, according to the report.

The case is In re Lehman Brothers Holdings Inc., 08-13555, U.S. Bankruptcy Court, Southern District of New York (Manhattan).

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