---
title: "Turnarounds & Workouts Quotes Special Counsel Benjamin Feder on Molycorp case"
date: 2017-04-26T00:00:00-04:00
author: Import Bot
canonical_url: "https://www.kelleydrye.com/news/turnarounds-workouts-quotes-special-counsel-benjamin-feder-on-molycorp-case"
section: News
---
# *Turnarounds & Workouts* Quotes Special Counsel Benjamin Feder on Molycorp case

 April 2017

 

 

 

 

 

 

Special counsel [Benjamin Feder](http://www.kelleydrye.com/Our-People/Benjamin-Feder) was quoted in the April 2017 issue of *Turnarounds & Workouts* in the article titled ​“Molycorp: Carve-Out Does Not Equal Fee Cap.” The article discusses a significant ruling by Delaware judge Christopher Sontchi in the Molycorp case. Judge Sontchi ruled that a standard carve-out for professional fees of an official creditors’ committee does not limit the ability of those professionals to later obtain more. ​“As with many decisions which come out of the Delaware bankruptcy court, this ruling could have a broad impact on chapter 11 practice in courts around the country,” Ben mentioned. When the article discussed secured lenders agreeing to carve-outs, Ben also added ​“The agreement usually comes only after hard negotiations (typically after sabers have not only been rattled but also drawn), as part of an order that provides new financing and/or permits a debtor to use cash proceeds of collateral in order to operate during the pendency of the bankruptcy case.

 

 

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