Heller Ehrman’s creditors have so much faith in Bill McGrane’s ability to shake millions of dollars from the defunct firm’s banks, they seem to have forgotten he’s a mere mortal.
The unsecured creditors’ committee wants to pay 11-lawyer McGrane Greenfield $1 million up front to pursue more than $58 million it says the banks shouldn’t have.
But at a hearing to approve the employment of McGrane Greenfield (free reg. req.) this afternoon, bankruptcy Judge Dennis Montali momentarily stumped attorney Tom Willoughby, who represents the creditors’ committee, by calling the prompt payment of $1 million to an 11-lawyer firm “a staggering amount,” and asking what happens if the very next day, McGrane got hit by a bus.