Corporate Bankruptcy: Stakeholders Have Mixed Views on Attorneyäó»s Fee Guidelines and Venue Selection for Large Chapter 11 Cases

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By David C. Maurer (au)
Year: 2015
Pages: 53
Binding Paperback
ISBN 978-1-4578-7061-3

Product Code: 1457870614

Description

Since 2010, there have been at least 765 Chapter 11 bankruptcy filings by large companies. The associated fees for bankruptcy professionals, including attorneys, can run into the hundreds of millions of dollars. The size of these fees has raised questions about whether professionals have charged a premium for large bankruptcies and used the venue selection process to file in courts where they believed they would receive higher fees. The U.S. Trustee Program (USTP), a Department of Justice component, is responsible for, among other things, reviewing whether fees requested by professionals in bankruptcy cases are reasonable and necessary in accordance with the Bankruptcy Code. In 2013, the USTP issued new guidelines governing its review of attorney fee applications in large Chapter 11 cases. This report reviewed the USTPäó»s 2013 guidelines. Tables and figures. This is a print on demand report.

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