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Delaware Bankruptcy Judge Orders Fee Examiners for 'Larger Chapter 11 Cases'
Within weeks of being ordered by the U.S. Court of Appeals for the Third Circuit to appoint an independent examiner to the bankruptcy of fraudulent cryptocurrency exchange FTX, U.S. Bankruptcy Judge John Dorsey of the District of Delaware issued a related order of his own.
Starting in early February, Dorsey ordered the appointment of fee examiners in all Chapter 11 cases before him where assets and/or liabilities exceeded $50 million — the threshold for "larger Chapter 11 cases," according to the Office of the U.S. Trustee.
While the U.S. Trustee Program provides for the use of fee examiners in such cases, examiners aren't required and frequently aren't appointed in pre-packaged bankruptcies and cases that aren't particularly contentious. However, a rise in bankruptcies involving fraud and mass tort litigation is causing more bankruptcy lawyers to face scrutiny over their billing practices.
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