Court Wrongly Disallows Lender’s Post-Bankruptcy Legal Fee

In this article for Law360, of counsel Michael Cook analyzes the U.S. District Court for the Eastern District of North Carolina’s decision in Summitbridge National Investments III v. Faison, which held that “[T]he Bankruptcy Code does not permit [an undersecured] creditor . . . to advance an unsecured claim for post-[bankruptcy] attorneys’ fees,” affirming the bankruptcy court’s finding that “the [Bankruptcy] Code is most properly interpreted to allow only oversecured creditors to add post-[bankruptcy] attorneys’ fees.”