Professor Ann Graham was quoted in the Star Tribune, offering comments on staggering post-fraud fees in cases like Tom Petters' Ponzi scheme. Attorneys and other professionals sorting through the mess left by the collapse of the largest financial fraud in Minnesota history have collected nearly $70 million for their work, and the tab is still growing.
"This is a disturbing feature of our bankruptcy system," said Graham, director of the Hamline Business Law Institute. "Legal fees for managing a bankruptcy often exceed what common sense would suggest is reasonable."
Star Tribune: Cleanup of Petters case has become a 'fee fest'