Judge Awards Fees In Collins & Aikman Case

Law360, New York (March 29, 2007, 12:00 AM EDT) -- A federal bankruptcy judge has awarded nearly $100 million in fees racked up by professionals working on Collins & Aikman Corp.’s bankruptcy case, despite the auto supplier’s ultimately unsuccessful reorganization.

On Tuesday, U.S. Bankruptcy Judge Steven Rhodes handed seven firms interim approval for 80% of the fees and expenses they had requested, ignoring protests that money should not awarded in the face of the supplier’s failure to reorganize.

Turnaround specialists Alvarez & Marsal, investment banks Chanin Capital Partners and Lazard Freres & Co., Kirkland & Ellis...
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