Bankruptcy Fee Audits - LCC has served as a bankruptcy fee examiner in many cases.
- LCC's engagement is made at the request of a Trustee, Debtor, Creditors' Committee or the Court itself. LCC personnel have served as Fee Auditors in many of the country's largest bankruptcies, including WorldCom, Enron, Adelphia, AmeriServe and Resolution Trust Corporation (RTC) Litigation, to name a few.
- As Bankruptcy Fee Examiners, LCC personnel review the Professional Fees and Expenses submitted by Law Firms (Debtor and Creditor), Accounting Firms, Reorganization Firms, Bankruptcy Examiners and other providers to determine the reasonableness and necessity of fee billings submitted, expenses incurred and work product prepared.
- LCC is able to resolve fee issues with the professionals subject to review, prior to intervention by the Bankruptcy Court. As fee examiner in prior bankruptcies, LCC has successfully resolved billing issues with most Professionals, including Counsel to Debtors and Debtors in Possession; Financial Advisors to Debtors and Debtors in Possession; Counsel to Official Committee of Unsecured Creditors; Financial Advisor to Unsecured Creditors; Accounting Firms and Examiners.
- LCC has international experience with foreign law firms and currencies.
- LCC utilizes a fixed fee structure. It is the most economical and predictable fee basis for retention of a fee reviewer. By affording predictability, LCC eliminates the need for the Court to "audit the fee examiner."
- LCC will accept Fee Applications and billings in any format - electronic, disk, or paper. LCC thereafter converts all billings to a uniform electronic format, with no additional cost to the client.
- LCC personnel render opinions and can be designated as an "Expert Witness".