Daily News: April 24, 2013

CFO: Reform Panel Says Bankruptcy Fees Out of Control

CFO, reporting on a recent panel of the American Bankruptcy Institute, said debtor companies are paying high fees to professional services firms because of creditor-committee proliferation and a flawed compensation system.

CFO noted that bankruptcy professionals speaking at the hearing on bankruptcy reform said professional fees of lawyers and other professionals in bankruptcy cases are so high that they are damaging the filing company’s value and investor recoveries.

To read the full CFO article click here.