Creditors, Trustee Call FTI's Fee Request Excessive

Law360, New York (September 23, 2009, 4:31 PM EDT) -- Both the creditors committee and the U.S. trustee overseeing the Chapter 11 liquidation of ethanol production startup Northeast Biofuels LP have taken issue with the fees being charged by financial adviser FTI Consulting Inc., saying they are unreasonable and should be reduced.

FTI is seeking about $287,000 in fees and expenses for the period from April 1 to July 31 for advising the debtor, along with a $378,000 transaction fee purportedly earned in connection with the sale of Northeast's assets.

But in an objection filed Sept....
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