Dreier Receiver to Seek $1.4 Million in Fees

The bill for the court-appointed receiver and his attorneys in the SEC’s case against Marc S. Dreier is in.   Mark Pomerantz said he expects to seek $150,000, while his counsel at Paul Weiss will ask for approximately $1.25 million for their four months of work.  The NY Law Journal reports that Paul Weiss is accepting a substantial discount from their normal rates.

In a report released last week, Pomerantz told the court that with the receiver’s “most pressing” tasks completed, it would be “unseemly” for the Paul Weiss team to continue to bill at “expensive hourly rates in circumstances involving so much pain,” the NYLJ reports.  More than $100 million in assets have been secured since Pomerantz’s appointment on Dec. 8, 2008.

Read the NYLJ article