N.J. District Court Rejects LTL Management’s Challenges to Houlihan Lokey Fee Award Order

TRENTON, N.J. –– A District Court has rejected LTL Management LLC’s challenges to a Bankruptcy Court order awarding $1.75 million in discretionary fees to Houlihan Lokey Capital, finding that the Bankruptcy Court “was clear” in landing on the final amount.

The U.S. District Court for the District of New Jersey opined in the Dec. 31 order that LTL had failed to show a calculation error or prove that the Bankruptcy Court had made any “clearly erroneous factual findings, misapply the legal standard, or otherwise abuse its discretion.”

The underlying appeal was filed by LTL Management LLC, in which the Debtor …