Friday, May 27, 2022, 4:55 pm News Flash Archive

Bankrupt Express Grain has again petitioned the court to pay substantial fees to its bankruptcy lawyer and to CR3, the firm brought in to restructure and "turn around" EG.

The new amount asked for today totals $1,214,264.40.

This is the second huge fee request to be filed this month. The Taxpayers Channel reported on May 13 that EG requested the bankruptcy court to approve professional and legal costs in the total amount of $625,000. The court had already approved an additional fee request of $355,846.33, bringing the total billings as of May 13 to just over $980,000. See our previous reporting here: Legal and professional fees top $980,000 in Express Grain bankruptcy case

But today's huge request now puts the grand total at $2.19 million in legal costs (to EG's law firm) and professional fees (to the CR3 restructuring company) for the case so far.

Today, EG is asking the court to approve an additional $874,604.25 to CR3. See the court filing here: Fourth Request to Pay CR3

Also today, EG is asking the court to approve an additional $339,660.15 to Craig Geno's law firm. See the court filing here: Third Request to Pay Legal Costs

Both filings contain detailed time sheets, and elaborate explanations for why the billings are necessary and reasonable.

In total, EG has requested payments to CR3 in the amount of $1,627,360.25, and to Craig Geno's law firm in the amount of $567,264.79.

No doubt, more requests for more payments will be filed soon.

 

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To read all our coverage of the Express Grain bankruptcy case, see here: Index of Express Grain articles

 

John Pittman Hey
The Taxpayers Channel

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