Asarco, Baker Botts Battle Over $142M Fees

Law360, New York (June 2, 2010, 6:25 PM EDT) -- A dispute over the meaning of a 1998 ruling that set the course for bankruptcy fee awards has taken center stage in the days-long hearing over Baker Botts LLP's request for $142 million in fees for representing Asarco LLC in its bankruptcy.

In a brief filed Tuesday in the U.S. Bankruptcy Court for the Southern District of Texas, Asarco staunchly objected to paying out the full requested amount because it said all of the firm's services had not benefited the estate.

But Asarco also raised the...
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