Top US Law Firms Blast Ch. 11 Fee Guideline Changes

Law360, New York (February 3, 2012, 8:13 PM EST) -- More than 100 U.S. law firms have signed off on comments criticizing the U.S. Trustee Program's plan to update the Chapter 11 billing guidelines for the first time in 15 years, according to a copy of the letter Law360 obtained Friday.

In the letter, the firms — including all five recognized by Law360 this year for the success of their bankruptcy practice groups — call for a series of meetings with officials to address potential problems with the revised guidelines, saying the changes "threaten to undermine...
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