TMST Trustee Says Orrick Should Get No Fees

Law360, New York (January 7, 2011, 7:40 PM EST) -- The trustee overseeing the bankruptcy of TMST Inc., who has a long-running malpractice suit pending against Orrick Herrington & Sutcliffe LLP, said Friday that the firm should receive no compensation for its work on the case.

Orrick, special counsel to TMST, is seeking about $850,000 in fees and expenses. But in an objection filed with the U.S. Bankruptcy Court for the District of Maryland, trustee Joel I. Sher claimed that Orrick and one of its partners held undisclosed interests adverse to those of the debtors' estates....
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