In re Airspect Air, Inc. Book Reviews
In re Airspect Air, Inc. by United States Courts of Appeals for the Sixth Circuit Book Summary
The bankruptcy court authorized Airspect Air, Inc. ("Airspect"), then in Chapter 11 proceedings, to retain Jeffrey Nischwitz as special counsel in order to prosecute a breach of contract action against the City of Akron (the "City"). Airspect retained Nischwitz under a contingency fee agreement, and, after the lawsuit settled, Nischwitz filed an application for his contingency fee. The bankruptcy court denied the application, however, finding pursuant to 330 of the Bankruptcy Code that the fee sought by Nischwitz was unreasonable. Nischwitz appealed to the Bankruptcy Appellate Panel of the Sixth Circuit (the "BAP"), which held that the bankruptcy court had "pre-approved" the contingency fee agreement under 328 of the Bankruptcy Code and, thus, was obligated to honor the agreement unless intervening circumstances had rendered the agreement "improvident." On remand, the bankruptcy court held that an intervening circumstance had, in fact, rendered the agreement "improvident," but, on a second appeal, the BAP disagreed. Spasoje Miskovic, the sole interest holder in Airspect, appeals, arguing that (1) the bankruptcy court never "pre-approved" the contingency fee agreement, and alternatively that (2) the termination of the lease by operation of law rendered the agreement "improvident." We hold that the bankruptcy court never "pre-approved" the contingency fee agreement and REVERSE and REMAND.
Book Name | In re Airspect Air, Inc. |
Genre | Law |
Author | United States Courts of Appeals for the Sixth Circuit |
Published | 04 October 2004, Monday |
Language | English |
E-Book Size | 55.97 KB |
In re Airspect Air, Inc. (United States Courts of Appeals for the Sixth Circuit) Book Reviews 2024
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Summary of In re Airspect Air, Inc. by United States Courts of Appeals for the Sixth Circuit
The In re Airspect Air, Inc. book written by United States Courts of Appeals for the Sixth Circuit was published on 04 October 2004, Monday in the Law category. A total of 50 readers of the book gave the book 0 points out of 5.
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