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Saul Ewing Wants Another $2 Million In Fees For Diamond Bankruptcy

Saul Ewing wants another $2 million in fees for the Diamond Comic Distributors Chapter 11 bankruptcy case, to bring their total to around $3.3 million.

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Bankruptcy is an expensive business. Saul Ewing LLP, legal and financial counsel to Diamond Comic Distributors, Inc., the debtor in the Chapter 11 bankruptcy case, has filed a second interim fee application seeking approval for just over $1.6 million in fees and almost $30,000 in reimbursement of expenses for the period from the 1st of April, 2025 to the 30th of June, 2025. They have also applied for another almost $350,000 payment to cover July. Saul Ewing reports a blended hourly rate of $700.49 with 2,296.7 total hours billed across 28 professionals. Those include:

  • Mark Minuti (Partner, Bankruptcy, admitted 1988): 367.5 hours at $975/hour, totalling $358,312.50.
  • Jeffrey C. Hampton (Partner, Bankruptcy, admitted 1990): 540 hours at $860/hour, totalling $464,400
  • Adam H. Isenberg (Partner, Bankruptcy, admitted 1988): 491.4 hours at $860/hour, totalling $422,604

While time taken up in the following;

  • Asset Sale Disposition: 879.1 hours, $689,289
  • Business Operations: 207.9 hours, $170,583
  • Litigation: Contested Matters and Adversary Proceedings: 318.1 hours, $239,684.50.
  • Preparation for and Attendance at Hearings: 216.8 hours, $161,909

Expenses include over $4,000 for hotels, over $3,000 for court reporting services, and over $2,500 for meals. Previously, from January to the end of March, they had billed almost $1.3 million in fees and over $15,000 in expenses. That brings the total to the end of July to over $3.3 million with expenses of almost $50,000. A hearing on this application, as well as many other aspects of the case, will be held on the 30th of September by Judge Rice in Baltimore. And it is one of a number of fees and expenses being applied for by a number of legal and financial bodies working on this case. Such as investment banking firm Raymond James & Associates, appointed by Diamond Comic Distributors last summer and running the Chapter 11 bankruptcy for Diamond, has now filed to collect around $3.8 million in compensation and over $66,000 in expenses for their role. And there are a lot more to come…

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Rich JohnstonAbout Rich Johnston

Founder of Bleeding Cool. The longest-serving digital news reporter in the world, since 1992. Author of comic books The Flying Friar, Holed Up, The Avengefuls, Doctor Who: Room With A Deja Vu, The Many Murders Of Miss Cranbourne and Chase Variant. Lives in South-West London, works from The Union Club on Greek Street, shops at Gosh, Piranha and Forbidden Planet. Father of two daughters, Amazon associate, political cartoonist.
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