Skadden Should Be Denied $4M Atty Fee, Radnor CEO Claims

Law360, Los Angeles (May 17, 2013, 10:44 PM EDT) -- Radnor Holdings Corp.'s former CEO on Friday told a Delaware federal bankruptcy judge to deny Skadden Arps Slate Meagher & Flom LLP's $4 million fee request because it helped a hedge fund net a $100 million windfall by selling the bankrupt packaging company.

Michael T. Kennedy, who was also Radnor's majority shareholder, alleges that Skadden hid partners' investments in Tennenbaum Capital Partners LLC when it bought Radnor's debt and sold it at substantial profits. The filing argued that a bankruptcy court can deny a final fee...
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