Kirkland & Ellis LLP obtained final court approval of $55.7 million in fees for representing Toy “R” Us in its Chapter 11 bankruptcy.
Judge Keith L. Phillips of the U.S. Bankruptcy Court for the Eastern District of Virginia approved the firm’s fees starting from Sept. 18, 2017, the date Toys entered bankruptcy, through Dec. 17, 2018. The June 4 order was made public June 6.
The firm’s fee application was recommended for approval by Nancy B. Rapoport, a bankruptcy law professor at the University of Nevada, Las Vegas, who served as an independent fee examiner in the case. Kirkland Ellis voluntarily reduced its fees by about $1.2 million in a March 18 filing.
No creditors or other interested parties opposed the fee request.
Toys “R” Us liquidated its operations in the U.S., U.K., Australia and other regions in 2018 year after failing to emerge from bankruptcy. The company’s principal creditors received rights to Toys “R” Us’s name and trademarks and are looking to revive the brand. Toys “R” Us continues to operate in Asia under different ownership.
The case is In re: Toys ‘R’ Us, Inc., Bankr. E.D. Va., 17-34665, Order 6/6/19.