Greenberg Traurig's First Magnus Fees Draw Protest

Law360, New York (April 15, 2008, 12:00 AM EDT) -- The final fee application of Greenberg Traurig LLP, lead counsel in the Chapter 11 case of First Magnus Financial Corp., drew strenuous objections Monday from WNS North America, an unsecured creditor of the bankrupt mortgage lender.

"As a threshold matter, the court must determine whether the fees sought by Greenberg Traurig are 'reasonable' compensation for the services provided," sayd WNS'objection, filed with the U.S. Bankruptcy Court for the District of Arizona. "WNS submits that fees of $1,357,511.75 incurred in this liquidating case, given the numbers and...
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