Macdonald | Fernandez LLP

MACDONALD | FERNANDEZ LLP


221 Sansome Street
San Francisco, CA 94104
Telephone: (415) 362-0449
Facsimile: (415) 394-5544
914 Thirteenth Street
Modesto, CA 95354
Telephone: (209)549-7949
Facsimile: (209) 236-0172

Tuesday, September 10, 2013

Senator Requests Probe of U.S. Trustee Attorney's Fees Initiative

Senator Chuck Grassley (R-Iowa) has requested a probe of the U.S. Trustee's initiative to overhaul how counsel is compensated in large chapter 11 cases. On November 1, 2013, new rules for attorney pay in large chapter 11 cases go into effect.  The U.S. Trustee hopes the guidelines will dispel the perception that lawyers take advantage of large corporate bankruptcy cases to charge expensive fees of $1,000 per hour or more.  In a letter yesterday, Senator Grassley asked the U.S. Government Accountability Office to review whether the new fee guidelines will “prevent excessive fees in the future and, if not, whether legislation is needed to address this problem.”

The new guidelines will be discussed in a Bar Association of San Francisco program set for today.  Click here to register.

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