Bloomberg Law
Aug. 13, 2015, 12:05 PM UTC

Bank of America Criticizes Legal Fees in Chapter 11 Case

Ellen Rosen

Bank of America NA describes Akin Gump Strauss Hauer & Feld LLP as one of the “preeminent” U.S. bankruptcy law firms, but is nonetheless complaining that the firm is charging “excessive and unreasonable” fees for representing the official creditors’ committee in Cal Dive International Inc.’s Chapter 11 case.

According to the bank, a secured lender to Cal Dive, the law firm ran up $994,000 in fees and expenses during its first 10 weeks on the job. Only $1 million in total had been set aside to pay the committee’s lawyers throughout the bankruptcy.

The bank said it will not increase ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.