In re River Rd. Partners LLC
Dec
17
2012
Ruling
Fee application denied with respect to restructuring fee on which approved retainer agreement was ambiguous and parole evidence showed no fee was permitted.
Procedural posture
Before the court was a motion for summary judgment filed by a financial advisor (Applicant) for debtor regarding its final fee application. The plan transferee (objector) objected to the fee application. The plan transferee did not file its own motion for summary judgment, but it argued that the court should award it summary judgment on the application sua sponte based on the undisputed facts.
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Court
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Asarco LLC v. Barclays Capital Inc. (In re Asarco LLC)
Dec
11
2012
Ruling
Fee enhancement for financial advisor reversed due to failure to satisfy improvidence exception.
Procedural posture
Appellant reorganized debtor appealed the bankruptcy court's award of $975,000 to appellee financial advisor and the advisor appealed the bankruptcy court's denial of the success fee and auction fee. The U.S. District Court for the Southern District of Texas affirmed all of the bankruptcy court's decisions. The parties appealed. The challenged the $975,000 fee award and the advisor contested the denial of its request for a $2 million success fee.
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Court
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Judge or Jurisdiction information not available
In re Sundance Self Storage-El Dorado LP
Nov
06
2012
Ruling
Debtor's counsel's previously approved fees ordered disgorged due to failure to disclose interests adverse to estate.
Procedural posture
The court issued an order directing the debtor's counsel to show cause why the court should not reconsider the amount approved under an earlier fee award in his favor and why he should not be sanctioned.
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Court
:
- 11 U.S.C.
In re Drennan
Sep
13
2012
Ruling
Real estate firm not entitled to administrative expense claim for commission that had not yet been earned under state law.
Procedural posture
Applicant, a real estate firm, sought an award of its real estate commission, 6 percent of the sales price, which was $69,000, as an administrative expense, and requested that the court direct the Trustee to complete the sale of the real property. The Trustee objected to paying the firm its commission since none of the properties had been sold. The Application was filed pursuant to 11 U.S.C.S. §§ 330, 503.
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Court
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In re Mendez
Aug
09
2012
Ruling
Special counsel's fees denied due to payment of proceeds of judgment in favor of estate to debtor without informing trustee.
Procedural posture
A special counsel filed an application for compensation pursuant to 11 U.S.C.S. § 328 for the legal services he rendered representing a bankruptcy estate in a state court matter. The United States Trustee (UST) objected to the special counsel's motion and moved for summary judgment.
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Court
:
Zamindar Props. LLC v. None (In re Zamindar Props. LLC)
Jun
22
2012
Ruling
Motion to appoint debtor's counsel as disbursing agent denied as causing conflict of interest.
Procedural posture
Before the court was movant debtor's motion to appoint counsel for debtor as Disbursing Agent.
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Court
:
- 11 U.S.C.
In re MRDUCS LLC
Jan
19
2012
Ruling
Debtor's application to retain law firm nunc pro tunc and providing for monthly payments approved.
Procedural posture
Debtor LLC filed a petition under chapter 11 of the Bankruptcy Code and operated its business as a debtor-in-possession. The debtor filed an application pursuant to 11 U.S.C.S. §§ 327 and 1107 for permission to employ a law firm nunc pro tunc to provide legal services while the debtor reorganized it business, and the United States Trustee ("UST") objected to some of the proposed terms of retention.
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Court
:
In re USHC LLC
Sep
23
2011
Ruling
Request for payment of debtor's attorneys via monthly postpetition retainer denied as not warranted.
Procedural posture
Chapter 11 debtor filed a motion pursuant to 11 U.S.C.S. § 327 and § 1107 to retain and employ attorneys nunc pro tunc.
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Court
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AASI Creditor Liquidating Trust v. Raymond James & Assocs. (In re All Am. Semiconductor Inc.)
Apr
19
2010
Ruling
Res judicata barred trustee from challenging prepetition attorneys' fees that were approved as part of retention order.
Procedural posture
Plaintiff liquidating trustee filed an adversary action against defendant financial advisor and investment banking firm (the firm) seeking to recover, on a variety of theories, various damages and payments made to the firm during the course of its prepetition employment by the debtor. The firm filed a motion to dismiss on res judicata and other grounds.
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Court
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In re Iron Horse Bicycle Co. LLC
Feb
04
2010
Ruling
Fee application by debtor's financial advisor, who was never formally approved, deferred pending resolution of other contribution claims.
Procedural posture
A financial advisor which had been considered for retention to represent the debtor with respect to an auction sale of its assets, filed an application for payment of its fees and expenses. Multiple creditors filed objections to the application.
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Court
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