Dewey bankruptcy firm Togut Segal & Segal bills £3m since firm’s collapse

Advisers working on the US bankruptcy of Dewey & LeBoeuf have racked up fees of more than $14m (£8.6m), according to new filings.

Dewey’s bankruptcy counsel Togut Segal & Segal billed more than any other consultant since the US firm collapsed last May, putting in a request for fees totalling $4.71m (£2.9m). This includes legal fees of $4.66m (£2.87m) and expenses of $50,200 (£30,900).

Brown Rudnick, legal adviser to the unsecured creditors’ committee, billed $1.9m (£1.17m) in fees and an extra $111,000 (£68,300) in expenses, giving a total of $2.006m (£1.23m).

Meanwhile, turnaround firm Zolfo Cooper, whose US head Joff Mitchell acted as Dewey’s chief restructuring officer, has billed $3.66m (£2.25m) in fees and expenses since the law firm’s collapse.

Deloitte’s fees for its job as financial adviser to the unsecured creditors’ committee totalled $653,178 (£401,900) including expenses.

Other advisers whose fees were disclosed in the December filings include financial advisory group Goldin Associates, special consultant to the firm, and Kasowitz Benson Torres & Friedman, lawyers to the official committee of former partners.

The figures exclude fees billed by CMS Cameron McKenna, which has been advising Dewey’s UK LLP.

Dewey advisers’ fees and expenses in full:

Adviser Role Client Fees ($m) Expenses ($m) Total ($m)
Goldin Associates Special consultant Dewey 1.19 0.0232 1.2132
Togut Segal & Segal Counsel Dewey 4.66 0.0502 4.7102
Deloitte Financial adviser Unsecured creditors’ committee 0.653 0.000178 0.653178
Brown Rudnick Counsel Unsecured creditors’ committee 1.895 0.111 2.006
Kasowitz Benson Torres & Friedman Counsel Official committee of former partners 1.275 0.0244 1.2994
Epiq Bankruptcy Solutions Administration adviser Dewey 0.0695 0 0.0695
Ernst & Young Tax adviser Dewey 0.0602 0 0.0602
Keightley & Ashner Pension benefits counsel Dewey 0.158 0.00029 0.15829
Thierhoff Müller & Partner Counsel Dewey 0.27 0.00809 0.27809
Zolfo Cooper Restructuring adviser Dewey     3.659
TOTAL         14.107058