Following two public comment periods and a public meeting, the United States Trustee Program (USTP) has updated its proposed guidelines for attorney compensation in larger chapter 11 cases, the USTP announced today. For purposes of these guidelines, a larger chapter 11 case is defined as a chapter 11 case with $50 million or more in assets and $50 million or more in liabilities, aggregated for jointly administered cases and excluding single asset real estate cases as defined in 11 U.S.C. § 101(51B). The USTP is accepting public comments on the updated proposed guidelines through Nov. 23, 2012. A document containing the updated proposed guidelines, a summary of the significant revisions to the initial version of the proposed guidelines posted on November 4, 2011, and the USTP’s analysis of comments received is available at http://www.justice.gov/ust/eo/rules_regulations/guidelines/proposed.htm. Comments on the updated proposed guidelines should be submitted by email to USTP.Fee.Guidelines@usdoj.gov. Alternatively, comments may be submitted by telefax to (202) 307-2397 or by mail to EOUST, 20 Massachusetts Ave., N.W., 8th Floor, Washington, D.C. 20530. To ensure proper handling of comments, please reference “Fee Guidelines” on all correspondence.
