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Unsecured Creditors May Claim Post-Petition Attorneys' Fees
by Frederick D. Hyman
Mayer Brown LLP - New York Office
Brian Trust
Mayer Brown LLP - New York Office
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November 25, 2009
Previously published on November 24, 2009
In a decision that will be of great interest to the creditor community, the US Court of Appeals for the Second Circuit held, on November 5, 2009, that the Bankruptcy Code does not bar an unsecured claim for post-petition attorneys’ fees that was authorized under a valid prepetition contract. The case, Ogle v. Fidelity & Deposit Company of Maryland, extends and clarifies the US Supreme Court’s March 2007 decision in the Travelers case, which opened the door for such a ruling.
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