Monday, May 13, 2013
It's official--the new bankruptcy fee guidelines are rolling out on July 1.
Today's Wall Street Journal has a big article about the U.S. Trustee Program's new fee guidelines for lawyers in larger bankruptcy cases (here). The rollout of the guidelines isn't a surprise. The USTP published the proposed guidelines, received comments, revised the guidelines, received more comments, and then promulgated the final version (see here). As the Wall Street Journal article points out, the next stage of promulgation will address the fees of the non-attorney professionals in the larger cases.
Lois Lupica and I, as part of our follow-up as Reporters for the ABI's National Ethics Task Force Final Report, will be publishing our Best Practices for Working With Fee Examiners in the next issue of the ABI Journal. (Special thanks go to three people who gave us very helpful comments in our development of our "best practices": Andy Vara, Robert Keach, and Brady Williamson.) We think that our suggestions will be useful as people see an increased use of fee review committees and fee examiners.