In a long-awaited opinion, the Fifth Circuit Court of Appeals recently reversed its ruling in Pro-Snax Distributors, Inc., 157 F.3d 414, 426 (5th Cir. 1998), providing that a bankruptcy professional can only collect fees for services provided to a bankrupt debtor that “resulted in an identifiable, tangible, and material benefit to the bankruptcy estate.”  See Baron & Newburger, P.C. […]