US Trustee Rips Latham's Retainer In OnCure Ch. 11

Law360, Chicago (July 15, 2013, 1:29 PM EDT) -- The U.S. trustee on Friday balked at the proposed fee arrangement private equity-owned OnCure Holdings Inc. has struck with its bankruptcy counsel, Latham & Watkins LLP, saying the $425,000 retainer is a gratuitous financial protection for the law firm.

Latham has requested that a prepetition retainer paid by the cancer center operator be converted to a so-called "evergreen retainer," which means it will be held throughout the case until the firm's fees are approved on a final basis, according to an objection filed in Delaware bankruptcy...
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