(Bankr. E.D. Ky. Aug. 21, 2015)
The bankruptcy court approves the final fee applications of the Chapter 11 professionals following conversion to Chapter 7. The secured lenders objected on a number of grounds. The court first determines that certain funds should be turned over to the Chapter 7 trustee despite the lenders’ prepetition liens. The court also determines the requested fees are reasonable and for actual and necessary services. Finally, the court determines that the fees are within the authorized “carve-out” amounts and can be paid from the lenders’ collateral, despite the fact that the lenders had appealed certain earlier orders on fee applications based on procedural issues. Opinion below.
Author: Matt Lindblom