The Justice Department has grown increasingly restless with attorney fees—often exceeding $1,000 an hour—paid by companies going through a bankruptcy reorganization.
Creditors of Pemco World Air Services Inc. are demanding that the company’s majority owner, private equity firm Sun Capital Partners Inc., pay back two years’ worth of management fees. Read the DBR Small Cap article here.
Lawyers for the committee representing MF Global Holdings Ltd.’s unsecured creditors and another group of nearly 200 MF Global customers dubbed the commodity customer coalition have filed papers with the U.S. Bankruptcy Court in New York listing the names of their members and what they’re owed from the holding company. Notable among the committee members is Paul Singer’s Elliott Management Corp., which has an unsecured claim against MF Global of $74 million.
This week, two sports agents received bankruptcy-related news, and the Dodgers fielded some new bidders. Also, Toni Braxton was hospitalized for lupus, and Nadya “Octomom” Suleman’s fertility doctor filed for bankruptcy.
Chapter 7 Fees Chapter 7′s typically take about three months from start to finish. Your lawyer would normally charge from $800.00 to $2000.00, depending on several factors such as how many people are filing, how much debt you have and what types of debt you have. Chapter 13 Fees Chapter 13′s typically run from three [...]
This week on The Broke and the Beautiful, the company that hosted Michael Jackson’s memorial concert danced into administration. We also report on a TLC band member falling into bankruptcy and boy-band mogul Lou Pearlman’s bankruptcy trustee’s bad news for Ponzi-scheme victims.
