In addressing the Office of the U.S. Trustee’s new attorney fee guidelines, the ABI Chapter 11 Reform Commission’s report recently proposed constructive changes regarding the retention and compensation of professionals, according to a commentary yesterday by Ralph Tuliano on the Wall Street Journal’s Bankruptcy Beat Blog. These recommendations are, in part, designed to incentivize professionals to provide services in a cost-effective manner, according to Tuliano. Additionally, the Commission suggested the consideration of the value, relevance and viability of alternative fee arrangements, fixed fee arrangements and task-based fees in the compensation of professionals. http://www.wsj.com/articles/BL-BANKB-20595
To read the Final Report of the ABI Chapter 11 Reform Commission, please visit http://commission.abi.org.
For additional perspectives on professional fees, be sure to visit the latest series on the Wall Street Journal’s Bankruptcy Beat blog: http://blogs.wsj.com/bankruptcy/category/the-examiners/
