AMR Defends $10M Financing Fees Against Trustee Protest

Law360, New York (May 7, 2013, 6:09 PM EDT) -- AMR Corp. on Monday urged a New York bankruptcy judge to ignore the U.S. trustee's protests against a $10 million fee for a financial advisory firm that worked on AMR’s new $3.25 billion financing package, saying the trustee’s arguments are irrelevant.

In response to U.S. Trustee Tracy Hope Davis’ objection to the $10 million fee for Rothschild Inc., which requires an amendment to Rothschild’s “engagement letter,” AMR says the trustee is relying on an outdated draft of the firm’s retention agreement.

The dispute revolves around AMR’s...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.