Dana Trustee Opposes Appaloosa Fee Request

Law360, New York (April 30, 2008, 12:00 AM EDT) -- The U.S. trustee overseeing the Chapter 11 case of newly reorganized Dana Corp. has objected to a $2.5 million fee request by the lawyers and financial advisers of one of the auto parts maker's investor suitors, Appaloosa Management LP.

The trustee, Diana Adams, told the U.S. Bankruptcy Court for the Southern District of New York on Tuesday that the hedge fund had not met its burden for showing the substantial benefit of its involvement, since it had never entered into an investment agreement with Dana despite...
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