Northwest Creditors Fight Veto Of $4M Success Fee

Law360, New York (March 20, 2008, 12:00 AM EDT) -- Creditors of Northwest Airlines Corp. are appealing a bankruptcy judge's rejection of their consultants' bid to receive almost $4.3 million in so-called success fees.

The official committee of unsecured creditors filed notice of their appeal in the Manhattan bankruptcy court on Thursday, defending the completion fee requests by financial advisors Lazard Freres & Co. and FTI Consulting Inc.

In a joint statement setting out the issues for appeal, the committee and FTI argued that the court erred when it asserted its authority to approve the method...
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