FTI Defends $2.4M Fees For Mortgages Ltd. Ch. 11

Law360, New York (September 17, 2009, 5:15 PM EDT) -- FTI Consulting Inc. has struck back at the criticisms of its $2.4 million fee request for serving as financial adviser in the bankruptcy proceedings of subprime lender Mortgages Ltd., calling the objections by the liquidating trust and managing entity “incredible.”

FTI's fee request represents only about 0.25 percent of the $950 million in assets involved, the company said in a response filed in the U.S. Bankruptcy Court for the District of Arizona on Wednesday.

Mortgages Ltd. entered bankruptcy in June 2008, but FTI did not enter...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.