In re CDC Corp.
Dec
28
2012
Ruling
Recovery by financial advisor to official committee of equity security holders limited to amount based on "Shareholder Recovery" while "Completion Fee" was denied.
Procedural posture
After movant, an Official Committee of Equity Security Holders, was permitted to retain LLC as its financial advisor and investment banker in connection with debtor's chapter 11 case, the terms of which were approved by the court per 11 U.S.C.S. § 328(a), issues arose as to the amount that LLC was currently entitled to receive under the "completion fee" provision thereof due to disputes as to the meaning of a "Shareholder Recovery" provision.
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Court
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