business news in context, analysis with attitude

Crain's Chicago Business reports that a Delaware bankruptcy judge has criticized Chicago law firm Kirkland & Ellis for the $12.9 million invoice it sent to Fleming Cos. for legal services associated with its bankruptcy.

Calling the conduct of the case "contentious, disorganized and wasteful,' the judge promised to cut the fee - possible by millions.
KC's View:
As one MNB user said to us yesterday, at these rates "it's a good thing Fleming was already in Chapter 11, or they'd have to file Chapter 7 to afford the Chapter 11."

Wish we'd said that.