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Wed March 7, 2012
Isaacson Steel Bankruptcy Lawyer's Bill Totals $313,000
The Manchester lawyer who handled the bankruptcy of Isaacson Structural Steel in Berlin will receive about $313,000 for his work if a federal judge approves.
In a recent filing William Gannon asked the judge for $191,000 for his work between September 1st and February 29th.
Previously the judge approved about $122,000 for work between June 22ndand August 31.
In the filing Gannon said he worked about 444 hours at $400 an hour in addition to work done by his staff.
He has said much of his work involved trying to find a buyer who would save the jobs and continue to operate the business.
Isaacson sold last month for $2.4 million to three companies that specialize in selling off industrial equipment.
Isaacson’s roughly 120 employees are in the process of being laid off, according to New Hampshire Employment Security.
Earlier a smaller part of the business sold to a Whitefield firm, Presby Environmental.
Gannon’s fee is equal to about 12 percent of what Isaacson sold for.