Contingent fee obligation based on "amount recovered" does not apply to losses avoided

IN RE: SOLIS (July 9, 2010)

Filed under:
USA, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Bankruptcy, Contingent fee, United States bankruptcy court, Trustee
Location:
USA
Firm:
Kelley Drye & Warren LLP
Bankruptcy court modifies success fee payable to debtor’s financial advisor in pre-packaged bankruptcy

Introduction

Filed under:
USA, New York, Insolvency & Restructuring, Litigation, Cadwalader Wickersham & Taft LLP, Contractual term, Bankruptcy, Debtor, Interest, Contingent fee, Debtor in possession, Capital punishment, Leverage (finance), Title 11 of the US Code, United States bankruptcy court
Authors:
Joseph Zujkowski
Location:
USA
Firm:
Cadwalader Wickersham & Taft LLP
Professional’s pre-approved fixed fee award upheld by 2d Cir.

Financial advisors, investment bankers, lawyers and other professionals in reorganization cases should pay close attention to a decision of the U.S. Court of Appeals for the Second Circuit handed down on Jan. 6, 2009. In re Smart World Technologies, LLC, ___ F.3d ___ (2d Cir. 1/6/2009).

Filed under:
USA, Insolvency & Restructuring, Litigation, Schulte Roth & Zabel LLP, Contractual term, Debtor, Federal Reporter, Investment banking, Standing (law), Liquidation, Judicial review, Contingent fee, Precondition, Second Circuit, United States bankruptcy court, Sixth Circuit
Location:
USA
Firm:
Schulte Roth & Zabel LLP
Investment bank's advisory fee properly calculated under reasonableness standard

The U.S. Court of Appeals for the Eleventh Circuit held on July 26, 2007, that a bankruptcy court properly calculated an investment bank's advisory fee under a reasonableness standard. In re Citation Corp., ___ F.3d ___ 2007 WL 2128165 (July 26, 2007).

Filed under:
USA, Insolvency & Restructuring, Litigation, Schulte Roth & Zabel LLP, Conflict of interest, Bankruptcy, Shareholder, Debtor, Federal Reporter, Investment banking, Contingent fee, Westlaw, United States bankruptcy court, Eleventh Circuit
Location:
USA
Firm:
Schulte Roth & Zabel LLP