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Ex-Phoenix Payment CEO Balks At $4M Fee For Ch. 11 Sale

By Matt Chiappardi (August 22, 2014, 9:27 PM EDT) -- The former CEO and controlling stakeholder of bankrupt card transaction processor Phoenix Payment Systems Inc. took issue Friday with the fee structure for the debtor's proposed investment banker, Raymond James & Associates Inc., arguing a $4 million "success fee" heavily favors a sale instead of the reorganization he supports....

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