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A New York bankruptcy judge on Thursday, Oct. 24, approved fee applications for four debtor law firms in the Chapter 11 filing of APW Ltd. Judge Prudence Carter Beatty of the U.S. Bankruptcy Court for the Southern District of New York approved the fees for lead debtor counsel Weil, Gotshal & Manges of New York that are as high as $650 an hour. Beatty also approved fees for special debtor counsel Conyers Dill & Pearman of Bermuda, general corporate counsel Quarles & Brady and special counsel Foley & Lardner (both based in Milwaukee, Wis.). The final fee applications are for July 16 to July 23 as APW now only has to resolve some claims issues and hopes to close the case by year’s end, said Weil Gotshal partner Richard Krasnow. There were no objections, he said. Krasnow billed the company at a $665 hourly rate, filings show, while other Weil Gotshal partners will collect between $505 and $580. Partners at Conyers Dill of Milwaukee billed at $380 to $420, Foley & Lardner’s partners earned between $300 to $445 and Quarles & Brady’s partners reaped rates ranging from $255 to $350 as general corporate counsel to APW. Contract electronics manufacturer APW Ltd. and its affiliate, Vero Electronics Inc., filed separate prepackaged Chapter 11 cases May 16 and the filings were administratively consolidated before APW emerged July 31, Krasnow said. APW then changed its name to BQX Ltd. and transferred all its assets to a new Bermuda company named APW Ltd. BQX is pending liquidation in Bermuda unrelated to the Chapter 11 filings. Vero Electronics is a dormant company with no operations that will ultimately be dissolved, he said. APW on May 16 filed after a prepackaged bankruptcy due to financial problems tied to its telecom and Internet customers. APW’s customers include Applied Materials, Sun Microsystems, Lucent Technologies, IBM, Ericcson, and Hewlett-Packard Co. Copyright �2002 TDD, LLC. All rights reserved.

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