The Supreme Court’s decision last term in Baker Botts v. Asarco, in which the Court ruled that professionals that are paid from a debtor’s bankruptcy estate cannot be compensated for time spent defending their fee...more
In 2005, ASARCO LLC, a copper mining, smelting and refining company, was in financial trouble and filed for Chapter 11 bankruptcy. Relying on §327(a) and §1107(a) of the Bankruptcy Code, ASARCO retained two law firms to...more
On June 15, 2015, the Supreme Court of the United States made clear that attorneys and other professionals hired under §327(a) of the Bankruptcy Code are not entitled to fees for their time spent litigating a §330(a)(1) fee...more
The Supreme Court has not handled its recent major bankruptcy decisions well. The jurisdictional confusion engendered by its 2011 decision in Stern v. Marshall was only partially clarified by this term’s opinion in Wellness...more
On June 15, 2015, the U.S. Supreme Court decided Baker Botts L.L.P. v. ASARCO LLC, No. 14-103, holding that § 330(a)(1) of the Bankruptcy Code does not permit bankruptcy courts to award fees that § 327(a) professionals incur...more