On August 18th, 2010, Judge James M. Peck of the US Bankruptcy Court will decide at a hearing whether or not to continue allowing the billionaire executives who are responsible for the collapse of Lehman Brothers to use funds from the dwindling Lehman estate to pay their legal fees. Judge Peck has the power to end the legal gravy train (millions of dollars) and make those responsible for the biggest bankruptcy in US history pay for THEIR OWN LEGAL FEES for the mess THEY HELPED CREATE and FROM WHICH THEY PROFITED. They can more than afford it! Here are the facts: - Dick Fuld, who helmed Lehman as CEO during it's slide into insolvency, made $500 million between 2000 & 2008. He was named by CNN as among the "Top 10 Most Wanted: Culprits of the Collapse." - The NY TImes reported that the cost of the legal fees for Lehman's former officers and directors will exceed $45 million. The law firm for the Lehman estate, Weil, Gotshal & Manges, estimates legal fees for Fuld & minions could total $70 million -Judge Peck ALREADY approved $200 million for Weil, Gotshal & Manges, and another $312 million for Alvarez & Marsal, the restructuring law firm handling the remains of the former Wall Street powerhouse. Please urge Judge Peck to JUST SAY NO to Fuld and his cronies. Let them pay for their own legal defense.
No comments yet.join the discussion
Anthony Fuller, United States4 years ago Comments: -
Serena Reid, United States4 years ago Comments: -
There are no highlights yet.