Beacon Power, US Settle $6.6M Ch. 11 Fee Fight

Law360, Wilmington (April 11, 2012, 6:54 PM EDT) -- Brown Rudnick LLP and others representing Beacon Power Corp. in its bankruptcy cut a deal Wednesday with the U.S. government on a disputed $6.6 million professional fee tab, clearing the way for the defunct smart grid technology company to dismiss its Chapter 11 case.

At a hearing in Delaware, Beacon told U.S. Bankruptcy Judge Kevin J. Carey that the company’s advisers had backed off from a portion of the requested fees to appease the U.S. Department of Energy, the company’s sole secured creditor.

The DOE, which...
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