Dana Judge Denies $2.5M Fee Bid By Appaloosa

Law360, New York (June 20, 2008, 12:00 AM EDT) -- The judge overseeing the bankruptcy case of newly revived auto parts maker Dana Corp. has shot down a hotly contested request for $2.5 million in legal fees by the company's would-be investment partner.

Judge Burton R. Lifland of the U.S. Bankruptcy Court for the Southern District of New York said in a ruling Thursday that Appaloosa Management LP had failed to meet its burden of showing that it had made a substantial contribution to Dana's reorganization, deserving of compensation.

The hedge fund, which sought to recoup...
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.