Meanwhile, staff at financial advisers Alvarez and Marsel charge an hourly rate of as much as $1,375 and received $4 million in retainers prior to the bankruptcy. Ray, via his company Owl Hill, charges a similar hourly rate. Upon completion of the Chapter 11 bankruptcy plan he will get a further $3 million bonus. Fellow law firm Landis Rath and Cobb, restructuring specialists Kroll, and tax advisers Ernst & Young will all claim their stake, too, according to court filings.
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