Refco Administrators Query AlixPartners' Fee

Law360, New York (March 16, 2007, 12:00 AM EDT) -- A $5 million "success fee" by a firm that helped Refco Inc. emerge from bankruptcy has raised eyebrows with plan administrators.

The court-appointed monitors of the reorganized commodities brokerage have asked a bankruptcy judge for more time to file an objection to the final $30.6 million invoice by the firm, AlixPartners.

The restructuring firm wants the success fee on top of the $25.6 million it has been paid for 55,000 hours of service and its out-of-pocket expenses.

But the post-bankruptcy administrators of Refco and its subsidiary...
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.