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legal fees

Mar 04

2011

Companies disclose potential legal bills

Posted by Stephen Taub in legal fees, lawsuits, contingent liabilities, compliance, American Institute of Certified Public Accountants, American Bar Association, AICPA

A number of companies this week have disclosed in regulatory filings billions of dollars of potential losses from legal proceedings.

Goldman Sachs Group, for example, said it could suffer "reasonably possible" losses of $3.4 billion from legal claims against the company.

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Feb 01

2011

Chapter 11 legal fees skyrocket, but who is responsible?

Posted by dbedell in Risk, legal fees, compliance, Chapter 11

The Chapter 11 proceedings of bond insurer FGIC has raised an age-old specter of US bankruptcy events—namely the high legal fees inevitably charged by lawyers involved in such cases and who is responsible for monitoring those fees.

The insurer listed $11.5 million in assets and $391.5 million in debt in its Chapter 11 filings last fall. Since then, the company has been moving forward through the Chapter 11 process.

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