Trustee Fee Fight Prompts Ch. 11 Retroactive Closing Bid

Law360 (February 14, 2018, 10:27 PM EST) -- A bankruptcy successor to Millennium Lab Holdings II LLC urged a Delaware judge Wednesday to retroactively close its confirmed but under-appeal Chapter 11, arguing that inadequate notice of a sharp hike in U.S. trustee fees justified the move.

Michael R. Nestor of Young Conaway Stargatt & Taylor LLP, counsel to the reorganized company, told U.S. Bankruptcy Judge Laurie Selber Silverstein that backdating the proposed closing order to the Jan. 23 date of its initial closing motion would save the company $145,000 in the current quarter and a $1 million per year future fee burden if the case remains open.

That amount,...

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