Practitioners Criticize USTP’s Proposed Attorneys’ Fee Guidelines in Ch. 11 Cases

The current fee and expense reimbursement regime under Bankruptcy Code Section 330 is sufficient and should not be changed, bankruptcy practitioners said in comments submitted on the U.S. Trustee Program’s proposed new attorneys’ fee guidelines for large Chapter 11 cases.

The proposed regime would be too burdensome, unnecessary, and could require attorneys to disclose confidential and privileged information, the commentators said.

The USTP, however, disagrees with many of the largest law firms’ comments, and takes the position that the current fee applications do not provide sufficient information to allow the court and others to evaluate whether law firms are ...