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DOJ Balks at MF Global Advisers Fees

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The Department of Justice is objecting to nearly $1.85 million in professional fees in MF Global's wind-down, including more than $500,000 for the primary law firm that represents bankruptcy trustee Louis Freeh, Reuters reported yesterday. The U.S. Trustee Program, the DOJ's bankruptcy watchdog, filed court papers yesterday criticizing compensation applications from a slew of professionals for incomplete time records, travel expenses and meal charges. In total, eight firms sought about $14 million in interim fees for work done between Oct. 1 and Jan. 31. That includes about $4 million from Morrison & Foerster, the law firm representing Louis Freeh, the former FBI chief and trustee in charge of winding down MF Global's estate.