Bank of America Takes on Akin Gump Over Ch. 11 Fees

Bank of America NA lauded Akin Gump Strauss Hauer & Feld LLP as one of the “pre-eminent” U.S. bankruptcy law firms, but complained that it’s charging “excessive and unreasonable” fees for representing the official creditors’ committee in Cal Dive International Inc.'s Chapter 11 case (In re Cal Dive International Inc., Bankr. D. Del., 15-10458, objection filed 8/10/15).

According to the bank, a secured lender to Cal Dive, the firm ran up $994,000 in fees and expenses during its first 10 weeks on the job. The requested fees almost equal the entire budget of $1 million set aside ...