December 20, 2006
Judge Lifland struggle to understand the hefy lawyer's fees and expenses in the Dana Corporation bankrutcy is a hoot. $9,000 airline flights and $ 300 cab rides??? The current bill is for $22 million. Put in context, this the corporation that successfully defeated a hostile takeover just a few years back, paying lawyers liberally to do so, and then ended up in Chapter 11. It is incorporated in Virginia and used the Virginia anti-takeover laws to defeat the takeover. Lawyers won; shareholders lost.
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