Proskauer Tops Firms Asking $105 Million in Puerto Rico Case

Attorneys restructuring Puerto Rico‘s massive public debt have billed about $105.4 million, with Proskauer Rose and O’Melveny & Myers accounting for more than half the total.

Proskauer Rose LLP has asked for $35.1 million in fees for its work representing the Financial Oversight & Management Board appointed to act for Puerto Rico and others in the largest municipal debt reorganization in U.S. history, while O’Melveny & Myers LLP has billed $28.3 million. O’Melveny represents the Puerto Rico Fiscal Agency and Financial Advisory Authority.

Other big firms that have billed Puerto Rico include Paul Hastings LLP ($24.9 million) for its work ...