Payments To Marco Polo Attys Could Sink Ch. 11: Judge

Law360, New York (February 1, 2012, 3:56 PM EST) -- A New York bankruptcy judge on Wednesday approved fee applications for Marco Polo Seatrade BV's attorneys, but not payment of the fees themselves, saying that the payments could anger the shipping company's lenders and derail the tenuous progress the Chapter 11 case has finally made.

U.S. Bankruptcy Judge James M. Peck made the ruling in the fee dispute, which dragged on for more than a month. The lenders had indicated that even though fees for debtors and creditors' counsel were subject to a new 20 percent...
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