Bankruptcy

Employment Applications In Sharper Image Bankruptcy

By Scott Riddle

Jonathan Hayes at the BankruptcyProf Blog discusses the employment applications in the Sharper Image Chapter 11 case filed recently in Delaware.   

The Weil Gotshal firm disclosed that it received a $400,000 retainer of which about $376,000 was used up prepetition.  (Sharper Image had $700,000 in the bank the day it filed the petition)  The hourly rates for the Weil firm run from $650 to $950 per hour for partners and $355 to $595 for associates ($595 per hour for an associate?).  The Womble, Carlyle firm, the local Delaware lawyers, received a $40,000 prepetition retainer.  The new chief executive, Robert P. Conway and his firm will receive $150,000 per month plus 1% of any new money or any sales of assets.

Full post as published by Georgia Bankruptcy Blog on February 29, 2008 (boomark / email).