The U.S. Supreme Court showed little sympathy for the bankruptcy bar on Monday, as it ruled that bankruptcy courts may not award lawyers or other professionals any compensation for the cost of defending their fees.
The 6-3 ruling in Baker Botts v. ASARCO dashes the Texas law firm’s hopes, along with those of other firms involved, of recovering nearly $7 million in costs incurred while defending the original fee application against attack by the mining company ASARCO LLC.
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