F.V. Steel & Wire Co. v. Houlihan Lokey Howard & Zukin Capital LP
Sep
06
2006
Ruling
Bankruptcy court's application of reasonableness standard to financial advisor's final fee application was harmless error as fees had been preapproved.
Procedural posture
Appellant chapter 11 debtors objected to the final fee application submitted by appellee financial advisors, who were appointed by the official committee of unsecured creditors to provide financial analysis and valuation services in the bankruptcy proceedings. The debtors objected to the $2,066,540 transaction fee sought by the advisors. They appealed after the bankruptcy court approved the advisors'final fee application.
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Court
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