A federal judge, citing excessive hours and unreasonably high rates, ordered a 20% reduction in fees for a law firm helping to protect the assets of investment company WexTrust Capital. Given a long-established principle that lawyers working in receivership situations should be awarded moderate fees, “the request for fees of $2,147,666 for 20 days of work [...]
Continue reading...Tuesday, December 9, 2008
Dreier LLP founder Marc Dreier was arraigned yesterday on federal charges of selling $113 million in fake securities to two hedge funds. Separately, the Securities and Exchange Commission filed suit to recover the $113 million. Southern District of New York Judge Miriam Goldman Cedarbaum will appoint Mark Pomerantz of Paul Weiss Rifkind Wharton & Garrison as receiver [...]
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Saturday, January 3, 2009
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