5th Circ. Reverses Barclays Fee Award In Asarco Ch. 11 Case

Law360, Los Angeles (December 13, 2012, 8:05 PM EST) -- The Fifth Circuit on Wednesday reversed Barclays Capital Inc.'s award for $975,000 in additional fees and declined to rule on the financial servicer's request for $2 million more than it was paid for its work advising Asarco LLP during its bankruptcy several years ago.

In a unanimous ruling, a three-judge federal appellate panel sent the case back to a Texas bankruptcy court to decide whether the $2 million fee request was appropriate and ruled that Barclays, whose requests for additional payment were based on the extra...
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