Despised by all except those who receive them. Attorneys’ fees for postpetition services, whether incurred by the lender’s counsel, debtor’s counsel, or a committee’s counsel are subject to review by the bankruptcy court for reasonableness, and are payable as an administrative expense. The secured lender’s attorneys’ fees may be paid from its collateral if the lender is oversecured.
See also Administrative Expense, Oversecured Creditor, Undersecured Creditor.