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Trustee slams ‘unreasonably rich’ GM fees

By Bernard Simon in Toronto and Nicole Bullock in New York

Published: June 23 2009 23:52 | Last updated: June 23 2009 23:52

General Motors’ two key restructuring advisers are seeking to charge the carmaker exorbitant fees, the US trustee, the Justice Department agency that oversees administration of bankruptcy cases, has claimed.

In a court filing on Tuesday, the trustee described the fees proposed by AlixPartners and Evercore Group as “unreasonably rich”. A committee of unsecured creditors has lodged a similar complaint.

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