Thursday, October 25, 2012
The Justice Department's watchdog agency is objecting to more than $12 million in fees racked up during the first three months of Hawker Beechcraft's bankruptcy proceedings.
In a filing Thursday, U.S. Trustee Tracy Hope Davis particularly chided the company for fees lawyers billed for the company's failed attempt to pay its eight senior executives millions in bonuses. The government called the fees excessive and unreasonable. And the trustee noted the lawyers spent more time working on the bonus plan than other projects.
More than $12.2 million in compensation and $642,000 in expenses were billed between May and July.
The trustee is asking the court not to grant any fees sought in connection with the executive bonus plan.