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.
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.
By
Charles M. Tatelbaum and Corey D. Cohen
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