Hope Davis, representing the Justice Department in the bankruptcy, objected to the applications of law firms Proskauer Rose and Keightley & Ashner.
In re Kitts Dev. LLC (Bankr. D. N.M.)
OPINION – Chapter 11 debtor’s counsel sought allowance and payment of compensation, which the trustee objected to, arguing there was no reasonable possibility of debtor reorganizing. The court disagreed, and found that at the time of filing, reorganization was a reasonable possibility that met the standard of 11 U.S.C. 330.
In re McCorvey (Bankr. N.D. Ohio)
MEMORANDUM OF DECISION - Because attorney did not disclose his fee as required by § 329 and Bankruptcy Rule 2016(b) and because his fee of $2,500. was excessive, fee would be disgorged.
In re Alexander (9th Cir. B.A.P.)
OPINION - Trailer that served as mobile barbecue sandwich business could be exempt under Nevada statutes, liberally construed.
The judge in the landmark bankruptcy of Alabama's Jefferson County sharply limited how the cash-strapped local government can use funds generated by its sewer system.
The parent of American Airlines and its unsecured creditors want to file a plan without interference from other parties, the company said.
Stockton, California, became the largest city to file for bankruptcy in U.S. history after years of fiscal mismanagement.
The trustee for the firm's bankrupt parent will have additional time to review a $160 million settlement that would benefit the failed broker-dealer's customers.
The firm was one of several advisers and banks that were engulfed in litigation following the failure of the company, which filed for bankruptcy in 2002 amid an accounting scandal.
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