Bankruptcy rates are a popular topic in the world we cover and always command great interest. Today’s news on the subject is no different. The latest fee requests in the bankruptcies of Bernard L. Madoff Investment Securities and Nortel Networks are boosting the bottom lines of two Am Law 100 firms. It might be good news for the lawyers, but not everyone is happy about it.
A federal judge on Thursday awarded trustee Irving H. Picard and his team of lawyers liquidating Madoff’s investment firm roughly $22 million in interim counsel fees. Southern District of New York Bankruptcy Judge Burton Lifland granted Picard and Baker & Hostetler’s respective requests for approximately $836,000 and $21.3 million in fees for May 1 through Sept. 30. In August, Lifland approved about $15 million in interim fees for Picard and his attorneys.
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