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Expert Analysis

A Big Haircut For Indenture Trustee Counsel Fees

Law360, New York (April 3, 2017, 12:54 PM EDT) -- In Nortel Network's Chapter 11 case, In re: Nortel Networks Inc. et al. in the U.S. Bankruptcy Court for the District of Delaware, Case No. 09-10138(KG), U.S. Bankruptcy Judge Kevin Gross recently reduced the indenture trustee's counsel fees by $913,936 in response to heavily litigated objections to the fees by noteholders Solus Alternative Asset Management LP and PointState Capital LP (collectively the "objecting noteholders"). The court's opinion has several important takeaways for indenture trustees and their legal counsel that go well beyond the reductions the indenture trustee's two law firms received....

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