Jonathan Hayes at the BankruptcyProf Blog discusses the employment applications in the Sharper Image Chapter 11 case filed recently in Delaware.
The Weil Gotshal firm disclosed that it received a $400,000 retainer of which about $376,000 was used up prepetition. (Sharper Image had $700,000 in the bank the day it filed the petition) The hourly rates for the Weil firm run from $650 to $950 per hour for partners and $355 to $595 for associates ($595 per hour for an associate?). The Womble, Carlyle firm, the local Delaware lawyers, received a $40,000 prepetition retainer. The new chief executive, Robert P. Conway and his firm will receive $150,000 per month plus 1% of any new money or any sales of assets.