May 18, 2020 / 12:14 PM / 12 days ago

IN BRIEF: Chapter 7 trustee gets no bang for beefing up Chapter 11 bucks - 10th Circ.

A Chapter 7 trustee’s compensation must be based on the amounts disbursed in the Chapter 7 proceeding, even if the trustee also generated funds for a separate bankruptcy of the debtor’s business, the 10th U.S. Circuit Court of Appeals held Friday.

The decision is a loss for Chapter 7 trustee Tom Connolly, who sought compensation based on the $10.4 million he recovered for the creditors of Denver restaurateur Jesse Morreale even though $8.4 million of it was disbursed through the Chapter 11 liquidation of Morreale Hotels LLC.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/3bJwoQl

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