Bankruptcy Judge James Peck yesterday approved nearly $158 million in lawyers' and other fees in Lehman Brothers' liquidation, Reuters reported yesterday. Yesterday's hearing covered $157.86 million split between 25 law firms and other professionals. That included about $80 million to Alvarez & Marsal, which managed Lehman's assets during bankruptcy, and about $40 million to Houlihan Lokey, financial adviser to Lehman's creditors' committee. Total fees in the case, the largest-ever chapter 11 bankruptcy, are about $1.8 billion, though only about another $985 million is subject to court approval.
