Paralegal for Sears bankruptcy case earned $174K in November: Report
FBN’s Hillary Vaughn discusses how Sears Chairman Eddie Lampert won the bankruptcy option to save the company from liquidation.
A single paralegal working on Sears’ bankruptcy case logged enough billable hours last November to secure a six-figure payday, according to a report Thursday.
Keri Grant, a paralegal at the Weil, Gotshal & Manges firm who specializes in real estate asset-related research, amassed 431 work hours in the month, the New York Post reported, citing court documents. With a pay rate of $405 per hour, Grant earned roughly $174,000 for one month of work.
Grant logged 103 more work hours than any other staffer at her firm while working on the Sears case, including a 19-hour shift on Black Friday, the Post noted. Weil, Gotshal & Manges charged Sears $10 million in fees for the month of November.
Both Grant and the Weil, Gotshal & Manges firm declined to comment on the situation.
Sears filed for Chapter 11 bankruptcy late last year and announced plans to close dozens of stores amid sagging sales. The once-dominant brand was on the verge of liquidation earlier this month, but current chairman and former CEO Eddie Lampert, the brand’s largest individual shareholder, made a $5.2 billion bid to buy the company out of bankruptcy.
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A final decision on Lampert’s bid is expected on Feb. 4.