Trustee to Judge: No More Money For Legal Fees

Law360, New York (July 21, 2006, 12:00 AM EDT) -- A week after filing a lawsuit against the company’s former executives, the U.S. Trustee for bankrupt mortgage lender American Business Financial Services Inc. has objected to a request by former company leaders for additional money for their legal expenses.

U.S. Trustee George L. Miller filed an objection to the leaders’ appeal to use insurance money to fight the increasing number of courtroom battles they face, saying the former executives are depleting insurance proceeds that could be used to protect the estate from claims.

Miller said the...
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