Large Firms Defend $304 Million in Fees in Steward Health Bankruptcy

Weil, Gotshal & Manges LLP and several other firms defended fee requests totaling $304 million in Steward Health Care System’s bankruptcy after Massachusetts accused professionals of incurring significant costs despite clear signs of administrative insolvency.

The commonwealth and other objectors, including insurer TRACO International Group, haven’t made a real effort to prove the estate lawyers’ and advisers’ fees were unreasonable, Weil said in a Nov. 12 filing in the US Bankruptcy Court for the Southern District of Texas.

“The Commonwealth baldly (and incorrectly) alleges that the estate professionals accomplished little, but it fails to articulate with any specificity how or ...