I don’t profess to be an expert on the legal job market, but it appears business is still booming for bankruptcy lawyers. (Are you listening, Recent law school grads looking for a job?)
Legal fees in the Tribune Co.’s bankruptcy proceeding recently topped $150 million, according to The Wall Street Journal. Tribune, the media giant whose holdings include The Baltimore Sun, filed for bankruptcy in December 2008. Its primary lawyers have been paid $41.7 million and its “restructuring adviser” $14.7 million since the case began, according to court filings, the Journal reports.
From the end of March to the end of April alone, those working on the case received more than $10 million in fees and expenses, the Journal reports.
Even Tribune’s representation isn’t hiring, there might be another way in: the company is also paying for “committees and other professionals appointed by the court,” according to the Journal.