For the past several months, this blog has featured posts concerning the money being paid to the advisors who helped formerly Lamar-based O'Sullivan Industries get through its Chapter 11 bankruptcy. According to the company's filings with the Securities and Exchange Commission, it paid at least $16 million to these companies.
One of the companies, Lazard Ltd., an investment banking firm, reported Wednesday its second quarter earnings had doubled, far surpassing analysts' estimates.
Of course, Lazard receives its money from other methods besides helping in the restructuring of bankrupt companies, but a Bloomberg article notes:
Revenue from financial restructuring for clients including O'Sullivan Industries Holdings and Kaiser Aluminum Corp., rose 29 percent to $21 million.