AlixPartners Defends Fee Request In Refco Case

Law360, New York (March 21, 2007, 12:00 AM EDT) -- Turnaround firm AlixPartners is standing by its request for a $5 million success fee for helping Refco Inc. climb out of bankruptcy.

AlixPartners, which has already charged the commodities brokerage for $25.6 million for its work on its Chapter 11 case, said Tuesday in a filing with the U.S. Bankruptcy Court for the Southern District of New York that the additional success fee is often requested in large bankruptcy cases.

“Administrators admit they are playing a zero-sum game, wherein they seek both a discount on hourly...
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