No Proof Borders Can Pay For Operations, Trustee Says

Law360, New York (April 29, 2011, 3:43 PM EDT) -- The U.S. trustee overseeing Borders Group Inc.'s bankruptcy proceedings in New York objected to the company's request to pay fees to various legal and financial advisers Friday, saying the beleaguered bookseller has not proven it can pay operating expenses.

Since the company has not filed its operating report for the period between Feb. 16 through March 31, “it is impossible to determine if the debtors are paying their nonprofessional administrative expenses on a timely basis and have the financial wherewithal to pay the fees and expenses...
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