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Mirant Investors' Ch. 11 Lawyer Stuck With $15K Fee

Law360 (February 2, 2009, 12:00 AM EST) -- Shareholders of Mirant Corp. have lost a bid to overturn a bankruptcy court's order awarding their attorneys just $15,000, or 2 percent, of the fees sought for work performed during the energy marketing firm's Chapter 11 case.

The U.S. Court of Appeals for the Fifth Circuit ruled Friday that the U.S. Bankruptcy Court for the Northern District of Texas had acted within its discretion when it ruled that the contribution of the Wilson Law Firm in maximizing the shareholders' recovery was duplicative in parts and not...
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