Texas District Court Affirms Fees in Stellar Case

In an appeal in ASARCO LLC’s chapter 11 bankruptcy case, pending in the Southern District of Texas, the U.S. District Court recently affirmed the Bankruptcy Court’s award of a fee enhancement, a.k.a. a fee bump, to ASARCO‘s bankruptcy counsel, which had obtained “extremely favorable” results for the Debtor and its creditors.  See ASARCO LLC v. Baker Botts, L.L.P., Case No. 2:11-CV-290 (S.D.T.X. […]

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Texas Bankruptcy Court Enforces Standards for Retention of Counsel

The Bankruptcy Code contains elaborate rules for the employment of counsel, accountants, consultants, financial advisors and other outside professionals in all bankruptcy cases.  These rules generally require bankruptcy court approval of all professional engagements.  Section 327 of the Bankruptcy Code and Federal Rule of Bankruptcy Procedure 2014, as modified by Court opinions, contain the primary standards that bankruptcy courts use to approve […]

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