Mirant Attorneys Must Defend $365M In Fees

Law360, New York (June 5, 2006, 12:00 AM EDT) -- Professionals that worked on Mirant Corp.’s Chapter 11 case will be heading back to court, this time to defend charging $365 million in fees over the course of the company’s bankruptcy.

Mirant, a Georgia-based energy company, emerged from nearly three years of bankruptcy protection in January with $6 billion in equity and a 90% recovery for unsecured creditors.

The professionals responsible for the turnaround—attorneys, consultants and financial advisors—must now participate in a series of hearings to justify their million dollar paydays.

The fees themselves have not...
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