Tower Auto's Bankruptcy Cost More Than $70M

Law360, New York (November 9, 2007, 12:00 AM EST) -- A judge signed off on the $70 million price tag for Tower Automotive Inc.'s bankruptcy, giving final approval to the fee applications of professionals like debtor counsel Kirkland & Ellis LLP, which stands to collect more than $20 million in fees.

U.S. Bankruptcy Judge Allan Gropper entered an order Thursday approving applications for fees and expense reimbursement totaling more than $70 million for work done in the Tower restructuring between the petition date — Feb. 2, 2005 — and July 2007.

Tower's disclosure statement was approved...
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