Judge Turns Down Expenses In Dana Case

Law360, New York (December 20, 2006, 12:00 AM EST) -- A federal judge has refused to authorize expenses sought by a slew of lawyers and restructuring professionals involved in Dana Corp.'s bankruptcy case, concerned that some of their costs border on extravagance.

On Tuesday, U.S. Bankruptcy Judge Burton Lifland approved the fee requests entered by a team of lawyers and consultants for an estimated $22 million, subject to a 20% holdback, according to court documents.

But in a surprising move, the judge then turned around and denied the group’s expense requests for nearly $1 million, departing...
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.