WILMINGTON, Del. (Legal Newsline) - One of the main insurers for the Boy Scouts of America has asked the judge overseeing the organization’s bankruptcy to keep a closer eye on legal and professional expenses, which the company says threaten to consume more than half the $540 million value of the group’s estate.
Century Insurance, in a filing before a May 19 hearing on attorney compensation, complains that scores of lawyers and other professionals are charging the Boy Scouts more than $1,000 an hour, often for duplicative services. The Boy Scouts has estimated it paid out $100 million in professional fees by the end of February and the tab will exceed $150 million by the end of the month.
Maria Chutchian
4 minute read
A plaque is displayed at the entrance of the U.S. District Bankruptcy Court for the Southern District of New York in Manhattan, New York, U.S., January 9, 2020. REUTERS/Brendan McDermid
Insurers who could be left footing the bill for personal injury litigation against former talc miner Cyprus Mines Corporation are challenging the company s proposed candidate to represent future tort claimants.
Cyprus is asking U.S. Bankruptcy Judge Laurie Selber Silverstein in Delaware to approve Roger Frankel as the future claims representative (FCR) in its Chapter 11 case. A status conference on the matter is scheduled for Monday.
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DOVER, Del. (AP) Attorneys for the Boy Scouts of America told a Delaware bankruptcy judge Monday that they plan to file a new reorganization plan after gaining little support for a previous.
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