As we discussed in two prior posts, on June 15, 2015, a 6-3 Supreme Court held in the Chapter 11 case of Baker Botts, L.L.P. v. ASARCO, LLC that bankruptcy professionals employed under Section 327(a) of the Bankruptcy Code may not, under Section 330(a)(1) of the Bankruptcy Code, recover as compensation fees incurred in defending their bankruptcy fee applications.
We originally issued this as a 2 part blog post, covering 10 questions each about Baker Botts. Part 1 covered the background and the majority opinion. Part 2 emphasized the dissent, possible errors in the decision, and the potential impacts on bankruptcy practice.
We’ve now combined them below in one, easy-to-download, easy-to-print .pdf.
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