Asarco Fights Barclays $9.2M 'Discretionary' Fee Bid

Law360, New York (March 17, 2010, 6:24 PM EDT) -- Asarco LLC has objected to the $9.2 million “discretionary” fee Barclays Capital PLC is seeking on top of the $13.6 million ordinary fee it earned for its role as a financial adviser during the bankruptcy.

Asarco, which exited Chapter 11 in December but is still tying up loose ends, filed an amended objection to Barclays’ professional fee request Tuesday in the U.S. Bankruptcy Court for the Southern District of Texas.

While noting that Barclays and the other professionals that assisted undoubtedly were of great value to...
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