December 21, 2011
Over Trustee's Objections, Former Howrey Bankruptcy Counsel to be Paid in Full
"In a single declarative sentence, U.S. bankruptcy court judge Dennis Montali captured the essence of what was at issue during a nearly two-hour hearing Wednesday over professional fee applications in the Howrey bankruptcy: 'This is not an ATM machine.'
That observation notwithstanding, the Howrey estate spit out fees in abundance as the sometimes contentious hearing came to a close. Wiley Rein collected one of the largest sums, with Montali approving the full $1.03 million the firm requested for its work as debtor's counsel in the Howrey case from June to October.
By way of background: Howrey entered involuntary Chapter 7 bankruptcy in San Francisco in April, less a month after dissolving. The case was converted to a Chapter 11 proceeding in June; at the urging of the estate's largest creditor, Citibank, it got put in the hands of Chapter 11 trustee Allan Diamond of Diamond McCarthy in October."
TrackBack URL for this entry:
Listed below are links to weblogs that reference Over Trustee's Objections, Former Howrey Bankruptcy Counsel to be Paid in Full: