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Associate Hourly Billing Rates Surge Past $1K in US as Firms Snap Up Bankruptcy Work

May 22, 2020 - Legal Week

The coronavirus pandemic quickly upended the economy and sent already struggling companies into free-fall, with retailers such as J.Crew, Neiman Marcus and J.C. Penney among those filing for Chapter 11 protection in recent weeks.

Recent court filings highlight the avalanche of fees these new cases are already generating for Big Law restructuring practices.

Take J.Crew, which was the first major retailer to succumb during the pandemic. In the 90 days leading up to the c...