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Sears’ Costly Bankruptcy

Sears’ Costly Bankruptcy

One paralegal involved in the Sears bankruptcy is receiving attention for services rendered above and beyond the call of duty.  Keri Grant, who works for Weil, Gotshal & Manges, the law firm representing Sears in the company’s bankruptcy, billed $174,000 in the month of November alone.  That amounts to 431 hours at $405 per hour.

Grant is a paralegal who specializes in real estate closings, work that involves researching surveys, titles, and documents related to assets.  Grant billed more than any associate, partner, or support staff at the law firm.

Such hours reflect that Grant worked Saturdays, Sundays, and Thanksgiving, often working 14-hour days.

The bankruptcy costs have not gone unnoticed.  The firm’s first bill of $5 million for seventeen days of work caught the eyes of industry experts who noticed partners who earn as much as $1,600 an hour were working on the case.

They did say, however, that it is not uncommon to have staff working 24/7 on a bankruptcy of this magnitude.