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Cleaning up Lehman….

The one-year anniversary of Lehman’s bankruptcy filing took place last month. But yesterday, Lehman filed its latest expense schedule which essentially tallies the cost of cleaning up over the past year. The total bill so far? $417.3 million!

Keep in mind that this just covers the cost of various professional fees — the overwhelming bulk of which have gone to restructuring firm Alvarez & Marsal and lead bankruptcy firm Weil Gotshal. The fees to those two firms alone represent just shy of two-thirds of the total spent over the past year. Over the past year, Alvarez & Marsal has received $169.2 million in fees and Weil Gotshal has received just under $100 million. While most of the other vendors — if that’s the best word to describe them — have been working on the case for awhile, this month showed several new additions, including a Special Counsel in the United Kingdom. The smallest bill — only $38K, which seems pretty cheap — was for Art Consultant and Auctioneer Kelly Matthew Wright.

Also interesting about yesterday’s filing is that the acceleration of fees — which we footnoted last month, seems to be diminishing. Last month’s wind-down bill came to $58 million. September’s bill was just over $50 million.

One final note about Lehman: yesterday they also filed this NT-10Q to let folks know that their 10-Q would not be filed on time. The reason? ” That results of operations for the Third Quarter ended August 31, 2009 will be significantly different from those for the corresponding period for the last fiscal year, due to significant developments in the business over the past year.”