Professional Compensation/Fees

Credit-Bidding and the Costs of Sale in Chapter 11: Requiring Payment of a Buyer’s Premium from Lenders Who Credit-Bid Under § 363(k)

In enacting the Bankruptcy Code in 1978, Congress recognized, as public policy, a need to ensure that professional services provided to a trustee or debtor in possession were provided by skilled, competent professionals. This policy is codified in the Bankruptcy Code’s sections relating to the employment and compensation of estate professionals (§§ 327, 328 and 330), which overruled the judicially fashioned doctrine of “economy of the estate” applicable under the Bankruptcy Act. These sections were crafted to ensure adequate, predictable compensation for estate professionals.

Benchnotes October 2022

Oct 2022

Claims Agents Are Barred from Making Money on the Side from the Claims Docket

Bankruptcy Judge Sean Lane in New York barred a chapter 11 claims agent from selling the claims docket to a claims trader in return for a share of the fees earned by the trader.

‘Results Obtained’ Can Justify Cutting Fees by 50%, Sixth Circuit Says

In fee allowances, considering ‘results obtained’ survived the 1994 amendments to Section 330(a).

After Siegel, Tenth Circuit Mandates Refunds for Overpayment of U.S. Trustee Fees

The Tenth Circuit is the first appeals court to rule on remedy after the Supreme Court said that the 2018 increase in U.S. Trustee fees was unconstitutional.

Ensuring “Access” and “Justice”: USTP’s Enforcement Guidelines for Bifurcated Fee Agreements

Sept 2022

Pitch Perfect: Various Perspectives on How to Get the Gig

Benchnotes August 2022

Aug 2022

Judicial Roundtables