Bankr. L. Rep. P 70,798 in Re Boston and Maine Corporation, Debtor v. Sheehan, Phinney, Bass & Green, P.A.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• noting that cutting contingency fee arrangement in bankrupt cy reorganization context may limit trustees’ ability to “recruit capable counsel”
• stating that “[t]o deny [a] fee ... because it exceeds time charges and looks high in hindsight would penalize [an attorney] for a job well done”
• asking whether “[t]he justification for a pure contingency fee — that the attorney assume the risk of receiving no compensation for his efforts,” was present in the case
• “the principle of strict economy has been abandoned for reorganizations entered into after passage of the Bankruptcy Reform Act of 1978”
• total fees and expenses of almost $23 million in one of the largest chapter 11 reorganizations filed at that time
• “The contingency aspect did not make the fee per se unreasonable in a bankruptcy reorganization.”

Source: CourtListener parenthetical corpus (CC0).