A plaque is exhibited at the entrance of the U.S. District Personal bankruptcy Courtroom for the Southern District of New York in Manhattan, New York, U.S., January 9, 2020. REUTERS/Brendan McDermid

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(Reuters) – Will 2022 last but not least be the yr of the $2,000-an-hour individual bankruptcy attorney?

New corporate individual bankruptcy filings slowed down a bit this yr right after a pandemic surge in 2020. But there had been even now ample major 2021 instances to maintain foremost practitioners fast paced – with some billing above $1,800 an hour.

Kirkland & Ellis’ highest hourly lover charges hit $1,895 in the bankruptcies of offshore driller Seadrill Ltd, mall operator Washington Prime Group and development startup Katerra Inc.

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Even the most junior associates at the firm billed $625 per hour in all those conditions, whilst other Kirkland associates billed as high as $1,195 – a lot more than some partners at the agency, according to charge details filed with individual bankruptcy courts.

Costs at some other corporations were not far powering. Simpson Thacher & Bartlett partners billed up to $1,850 per hour in the personal bankruptcy of Chilean bank keeping firm Corp Team Banking SA. Its most junior associates topped those people at Kirkland, charging $655 for each hour in the Corp Team situation.

The graphics underneath clearly show hourly rates billed by individuals and other corporations tapped as guide debtor’s counsel in a sampling of Chapter 11 scenarios filed in 2021, as well as the quantities they experienced billed in those people bankruptcies as of mid-December.

Most of the instances had been selected simply because they concerned debt of at the very least $1 billion.

Some had been notable for other factors, these as the case of former talc miner Cyprus Mines Corporation, which was caught up in Johnson & Johnson-similar talc litigation right before it submitted for Chapter 11 security. (The J&J talc liabilities individual bankruptcy was not provided since it has still to report regular fees.)

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