Pacific Energy Creditors Blast Lazard, Albrecht Fees

Law360, New York (April 13, 2009, 12:00 AM EDT) -- Creditors of oil and gas exploration and development company Pacific Energy Resources Ltd. have objected to the company's proposal to employ Lazard Freres & Co. LLC and Albrecht & Associates LLC for what they say are overlapping financial services.

In a motion filed Friday in the U.S. Bankruptcy Court for the District of Delaware, the official committee of Pacific Energy's unsecured creditors said that the company's proposed agreements with Lazard and Albrecht could compensate both firms for the sale of the same assets.

Pacific Energy is...
To view the full article, register now.