In re Northwest Airlines Corp.
Feb
29
2008
Ruling
Financial advisors to committee of unsecured creditors were not entitled to success/completion fees.
Procedural posture
Financial advisors which were properly retained by a committee of unsecured creditors in a bankruptcy case were awarded fees and costs in accordance with their previously approved retention agreements. The advisors requested additional success or completion fees based on the successful reorganization of bankruptcy debtors.
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Court
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In re Robinson-Wolf
Oct
10
2007
Ruling
Chapter 7 trustee's request for compensation for period prior to conversion to chapter 13 granted.
Procedural posture
At the behest of the court, a chapter 7 trustee filed a supplemental memorandum in support of his application for allowance of compensation and reimbursement of expenses for work performed in the brief period before the conversion of the debtors'case to chapter 13.
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Court
:
Russell v. Jones (In re Pro Page Partners LLC)
Jul
11
2007
Ruling
Trustee's attorney's fees incurred in adversary proceeding were limited to rates approved in retention application.
Procedural posture
Defendant objected to the request for attorney's fees by plaintiff chapter 7 trustee.
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Court
:
In re Gilbertson
Feb
04
2007
Ruling
Bankruptcy court erred in reducing fee claimed by trustee's attorney pursuant to approved contingency fee agreement.
Procedural posture
Appellant collection attorney sought review of an order of the bankruptcy court, which reduced the fees owed him by the bankruptcy trustee under his one-third contingency fee arrangement with the trustee, which the bankruptcy court had previously approved, for his efforts in recovering $10,000 of the $12,500 that the debtor had fraudulently transferred to a Wisconsin lawyer.
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Court
:
In re Firstline Corp.
Jan
25
2007
Ruling
Chapter 11 plan could include reasonable exculpation and indemnity provisions.
Procedural posture
A claimant, the sole holder of equity in a debtor, objected to confirmation of a plan of reorganization proposed by the Official Committee of Unsecured Creditors in a case under chapter 11. At issue was whether clauses exculpating and indemnifying certain persons were improper or otherwise contrary to 11 U.S.C. § 328(a) and whether their presence therein prevented confirmation of the plan.
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Court
:
- 11 U.S.C.
In re Harman
Oct
12
2006
Ruling
Real estate agents was entitled to commission for producing ready, willing and able buyer for estate property and sanctions for debtor's interference with process.
Procedural posture
Movant, a real estate agent, applied for compensation on account of services it rendered in connection with the marketing of land belonging to debtor as well as sanctions against debtor for allegedly interfering with movant's efforts to market and sell the land.
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Court
:
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
:
In re Ashby
May
31
2006
Ruling
Trustee was granted authority to pay attorney for services selling debtor's real estate but fee was reduced to account for attorney performing trustee duties.
Procedural posture
In debtor's chapter 7 case, the bankruptcy trustee sought authority to pay liens on auctioned property from the proceeds of the sale, as well as payment of the attorney's fees and expenses from trustee's funds on hand. The creditors objected to payment of contingent fees to the attorney for the trustee. The attorney requested fees based on a one-third contingent fee agreement.
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Court
:
- 11 U.S.C.
In re Guadette
May
26
2006
Ruling
Court modified fee agreement and awarded counsel additional fees since parties benefitted from counsel's work.
Procedural posture
Movant, special counsel to the trustee of a chapter 7 bankruptcy estate, filed a final fee application, seeking additional fees on theories of fee-shifting, common fund, quantum meruit, and the application of a contingency fee agreement to all assets of a second bankruptcy estate. Objectors included, inter alia, the trustee, the Small Business Administration, and three recovery corporations, one of which filed a motion to release escrow funds.
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Court
:
Lazard Freres & Co. LLC v. NorthWestern Corp. (In re NorthWestern Corp.)
May
22
2006
Ruling
Court reversed bankruptcy court's fee order and approved application for restructuring fee since section 330 rather than section 328 standard had wrongly been applied.
Procedural posture
An official committee of unsecured creditors hired appellant company to provide financial advisement services in conjunction with appellee chapter 11 debtor's bankruptcy proceedings. The company appealed after the bankruptcy court sua sponte reduced its restructuring fee by 50 percent and entered a fee order based on the reduced fee amount.
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Court
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