Large bankruptcy cases are some of the most complex forms of litigation that a corporation’s in-house counsel can face. Bringing in outside counsel complicates matters further, having to deal with outside counsel billing guidelines and fees. Legal fees and costs quickly accrue, and the impact of human errors increases. That’s why legal auditing is a crucial element of bankruptcy legal practice.
Bankruptcy legal fee auditing services allow any party to a bankruptcy case to make an in-depth legal bill review that can help settle any fee disputes that arise. The expert legal team at Legal Cost Control has extensive legal auditing experience across a number of high-profile corporate bankruptcy litigation cases, including Enron, WorldCom, Adelphia, and The Resolution Trust Corporation (RTC), to name just a few.
Debtors in possession, creditors’ committees, law firms overseeing debt restructuring and any other party to a large bankruptcy requiring legal audit services find in Legal Cost Control an effective solution to determine reasonableness and necessity of legal invoices and legal expenses, as well as proper legal spend management. Legal Cost Control ensures best billing practices across the board, and provides an intuitive dashboard, exhaustive analytics and comprehensive metrics.
Legal Cost Control provides legal auditing services capable of resolving fee issues and billing disputes before a bankruptcy court need intervene. Legal Cost Control has successfully resolved billing issues & provided counsel to debtors and debtors in possession, financial advisory to debtors and debtors in Possession, counsel to official committees of unsecured creditors, financial advisory to unsecured creditors, accounting firms, examiners & other professionals.
Legal Cost Control’s bankruptcy audit services extend across borders, and the expert audit team has experience with legal auditing in international affairs, dealing with bankruptcy fee disputes involving foreign law firms and foreign currencies.
Legal Cost Control can receive legal billings and fee applications in any format, including electronic, disk, paper and any other custom bill formats. Legal Cost Control then proceeds to convert all legal billings to a uniform electronic format, at no additional cost to clients.
The expert legal audit team at Legal Cost Control can render professional opinions and can be designated as “expert witnesses” in a court of law. Legal Cost Control utilizes a fixed fee structure, as it is the most economical and predictable fee basis for retention of a fee reviewer. In this manner, ensuring predictability of legal fees removes any necessity for the bankruptcy court to “audit the fee examiner.”