Committee: Tower Records' Lawyers' Fees Too High

Law360 (May 17, 2007, 12:00 AM EDT) -- Professional fees in music retailer Tower Records’ ongoing bankruptcy proceedings have struck a sour note with one of its secured creditor groups, who called the pay slips “disproportionately large in relation to the size of [Tower Records’] estates.”

The informal committee of secured trade vendors, made up of film and record companies allegedly owed more than $70 million by Tower Records, argued that the fees being generated by lawyers and financial firms were “continuing to create an untenable financial burden” on Tower Records.

The vendor group,...
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