All fees and costs charged to debtors and their estates in Chapter 11 bankruptcy cases are subject to the review and approval of the Bankruptcy Court.
Pre-filing assessment and recommendation fees: Is Bankruptcy right for me? How can I benefit? What are the likely costs? All of these questions are important to a debtor in need of relief. We offer fixed fee engagements in each of the three practice segments represented in this website to assess your business and answer all of these questions.
Individual or joint (husband and wife) case — $10,000
Small-business case (under $7,500,000 in debt) — $10,000
Privately held company — $30,000
We accept cases for individuals and companies with asset or enterprise values in excess of $10,000,000 on an hourly basis only.
We accept no cases with asset or enterprise values in excess of $60,000,000.
Bankruptcy Fees: How Much Does Chapter 11 Cost?
We charge hourly fees ranging from $125 to $720 per hour for bankruptcy services. There is a court mandated filing fee of $1,738.00.
All fees incurred by debtors in bankruptcy post petition must be submitted to and approved by the court. They must represent value for the estate of the debtor(s). We routinely ask the court to approve our employment as counsel for the estate of the debtor. We also routinely ask for permission to submit monthly fee requests subject to automatic interim approval and debtor funding but subject to allowance only upon final approval of all fees incurred. Once the case is filed, we belong to the class of creditors entitled to the highest priority of all of your creditors except for lenders granted super priority position.
Once the case is filed, we are not the debtor’s attorneys, we are the attorneys for the Chapter 11 estate. In the usual case, we take our direction from the individuals, or business owners, but this may not be the case if they are removed as the persons in control of the case. In such a case, we will owe our duties as attorneys to the estate, and not the individuals. We will warn you if we foresee this possibility.
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