Corporate Law Firm Billing Rates Rise Despite Weak Demand

Wall Street Journal (Link to Full Article) Documents filed in chapter 11 bankruptcy cases offer a peek at the mounting hourly fees charged by elite corporate law firms.

The court filings show the rates of partners specializing in corporate restructuring, as well as those with specialties like tax, litigation and corporate law. The bottom line? Fees of $1,000 an hour don’t seem so steep anymore...

That doesn’t mean everybody’s charging four figures. A survey of in-house legal departments by BTI Consulting Group found that the average highest rate paid for law-firm partners was $875 an hour in 2015, up more than 27% from three years earlier.