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Bankruptcy Litigation

Sixth Circuit Adds Results-Based Contingency to Fee Payment Approval

A recent decision from the U.S. Court of Appeals for the Sixth Circuit may be creating a tsunami of concern to those that represent bankruptcy trustees. The decision, in essence, takes an hourly fee arrangement between the trustee and the trustee’s attorneys and adds a results-based contingency to the approval of any fee payment authorization by the bankruptcy court.

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A recent decision from the U.S. Court of Appeals for the Sixth Circuit may be creating a tsunami of concern to those attorneys and law firms that regularly represent bankruptcy trustees. The decision, in essence, takes an hourly fee arrangement between the trustee and the trustee’s attorneys and adds a results-based contingency to the approval of any fee payment authorization by the bankruptcy court.

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