Collecting Attorneys' Fees: An Unresolved Issue

Law360, New York (December 4, 2007, 12:00 AM EST) -- A district court recently held that section 506(b) of the Bankruptcy Code does not permit an unsecured creditor to collect attorneys' fees incurred during bankruptcy, even where the parties' contract entitled the creditor to recover such fees.

This decision in the A.P. Green case highlights a still-unresolved issue of unsecured and undersecured creditors' rights to recover attorneys' fees following the Supreme Court's decision in the Travelers case earlier this year.

This issue may be of substantial practical importance to financial institutions and others that serve as...
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