Delta Petroleum Trust Sues To Escape $10M In Banker Fees

Law360, Wilmington (October 25, 2012, 5:21 PM EDT) -- The creditor trust set up in Delta Petroleum Corp.'s bankruptcy sued Macquarie Capital (USA) Inc. on Thursday to avoid some $10 million in fees the investment bank claims it earned advising on the oil and gas exploration company’s reorganization.

According to a complaint filed in Delaware bankruptcy court, Delta retained Macquarie Capital solely to arrange a sale prior to the bankruptcy, which didn’t pan out, yet the firm is seeking “success” fees for restructuring work done entirely by a second adviser, Evercore Group LLC.

“Macquarie Capital...
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