Citing Bad Faith, Oneida Objects To Fee Applications

Law360, New York (October 23, 2006, 12:00 AM EDT) -- Newly reorganized Oneida Ltd. has asked the bankruptcy court that oversaw its Chapter 11 case to reject requests for over $2 million in fees and expenses from a law firm, a financial advisor and an actuarial advisor.

The dispute stems from the appointment of an equity committee. The debtors say the equity committee used unsupported accusations of bad faith to get a seat at the bargaining table, which resulted in nothing but wasted resources.

If the court sides with Oneida, law firm Brown Rudnick Berlack Israels...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.