TransPerfect-Linked Group Seeks Access to Custodian Expenses
A group backed by employees of TransPerfect Global Inc. is pressing the Delaware Court of Chancery to release details of how the custodian overseeing the company's court-ordered sale has spent more than $18 million in fees and expenses.
May 17, 2017 at 06:50 PM
15 minute read
The original version of this story was published on Delaware Law Weekly
A group backed by employees of TransPerfect Global Inc. is pressing the Delaware Court of Chancery to release details of how the custodian overseeing the company's court-ordered sale has spent more than $18 million in fees and expenses.
The group, Citizens for a Pro-Business Delaware Inc., announced Tuesday that it had filed a motion asking the court to unseal documents relating to at least 32 confidential transactions undertaken by Skadden, Arps, Slate, Meagher & Flom partner Robert B. Pincus since he was appointed custodian in March 2015.
Responding to a notice filed by The Associated Press in March, Pincus disclosed a monthly accounting of more than $3.5 million in charges “reflecting services provided by the custodian, attorneys from the custodian's law firm and counsel representing the custodian” in a separate lawsuit. However, the filing did not include fees or expenses paid to other counsel and advisers, and it did not detail how the money was spent.
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