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Professional Fees: How to Get a Bankruptcy Judge's Attention
How does a bankruptcy professional get the court's attention on fees? Chief Bankruptcy Judge Mary F. Walrath of the District of Delaware answered the question with a detailed 33-page opinion on Dec. 23, 2003. In re Fleming Companies, Inc., et al, 2003 Bankr. LEXIS 1727 (Bankr. D. Del. 2003). Disposing of an objection by the United States Trustee to interim professional fee applications, Judge Walrath said she would “reduce the fees requested by the Debtors' professionals.” Id. at 5. Not exactly the kind of attention any lawyer wants.
The affected professionals still have an opportunity to supplement the record, and the facts may eventually be restated. But it is the court's perception of the facts that has the greatest impact for all practitioners. The identities of the professionals are not important, and will not be discussed. Rather, the focus here is on the conduct that will cause an experienced judge to cut professional fees.
Common sense apparently drove the court's scolding of the professionals in Fleming. Even so, a quick review of the facts shows that professionals have to be reminded regularly of some common pitfalls:
- Not listening;
- Overstaffing;
- Lack of team coordination;
- Inflated hourly rates;
- Unnecessarily high-priced staffing; and
- Unnecessary litigation.
Set forth below are the details of the court's findings with a checklist of practical tips.
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