US Trustee Seeks Holdback On Patriot Coal Bankruptcy Fees

Law360, Los Angeles (December 12, 2012, 9:28 PM EST) -- The U.S. trustee on Tuesday objected to an $18 million fee request by professional firms working on Patriot Coal Corp.'s bankruptcy, arguing that their rates were excessive, especially since the company hasn't filed a reorganization plan and is still incurring significant financial losses.

In a 32-page filing in the Southern District of New York, Elisabetta Gasparini, a trial attorney for the U.S. trustee's office, argued that Patriot Coal had suffered losses every month since it sought bankruptcy protection in July and the firms did not deserve...
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