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Administrative Claims
by all means object: also need to get a breakdown between fees attributable to adv. pro. vs. case administration. it's probably been lumped together, hence the fees.
Janis Abrams
successfully disallowed 100% of the claims (thank you NACBAfor excellent materials). Therefore, there are no claims to bepaid. Trustee's counsel just disclosed their fees are up to$140,000 (gasp, gasp!!).Any thoughts about objecting to the fees on the grounds there was nobenefit to the estate, and certainly none after the adversaryproceeding settled, and most certainly since I did all of the claimsobjections (over $260,000 disallowed, including IRS for late filedclaim). It seems to me that this is a case of first impression,similar to the administratively insolvent cases, but with no paymentbecause all claims were disallowed. Has anyone seen such an animal?Best regards. Lou Esbin Find e-mail and documents on your PC instantly with the new MSN Search ToolbarFREE!
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I filed a chapter 7 case, where the trustee brought an action to
recover a fraudulent transfer against my clients and his parents on
real property. There was some litigation, no trial, a discovery
dispute that was settled, and settlement at mediation. At the
mediation, the trustee and counsel disclosed that their fees were
over $80,000 (gasp!). A lump sum was deposited with the trustee
sufficient to cover filed claims and the disclosed administrative
fees. As part of the settlement, I did all of the rest of the
work. I successfully disallowed 100% of the claims (thank you NACBA
for excellent materials). Therefore, there are no claims to be
paid. Trustee's counsel just disclosed their fees are up to
$140,000 (gasp, gasp!!).
Any thoughts about objecting to the fees on the grounds there was no
benefit to the estate, and certainly none after the adversary
proceeding settled, and most certainly since I did all of the claims
objections (over $260,000 disallowed, including IRS for late filed
claim). It seems to me that this is a case of first impression,
similar to the administratively insolvent cases, but with no payment
because all claims were disallowed. Has anyone seen such an animal?
Best regards. Lou Esbin
The post was migrated from Yahoo.