Attorneys who wish to be retained as Special Counsel to the Trustee are advised to read the following:

If you wish to be retained as Special Counsel in a case in which Kenneth Kirschenbaum is the Trustee you should be aware of the Trustee's position regarding Special Counsel.   Administration of bankruptcy estates is the responsibility of the Trustee and it is the Trustee who is held strictly accountable for the effective, efficient and expedient handling of all aspects of the case, including litigation or other legal matters that may require the retention of Special Counsel.  Your selection as
Special Counsel is an exercise, in the first instance and throughout the case, of the Trustee's discretion.   From the Trustee's perspective your selection as Special Counsel will enable the Trustee to better meet his fiduciary obligations in the administration of the estate.   The Trustee is answerable to many parties, but particularly is under the direct supervision of the office of the United States Trustee and the Bankruptcy Judges.   There are a myriad of reporting requirements asked of the Trustee which require the Trustee to provide knowledgeable status reports and explain why a case remains under administration.  Greater scrutiny and potential criticism becomes more likely as the case remains open and under administration.  Your selection as Special Counsel should serve to aid the Trustee in his duties and contribute to the successful administration of the estate.  Your retention should not cause the Trustee or his general counsel additional work and concerns and should not
delay or impede the administration of the estate, which the Trustee considers sufficient bases to terminate your retention as Special Counsel for cause or oppose your final application for compensation.  Special Counsel is required to provide written status reports to the Trustee at least every 90 days and keep the Trustee informed of all important developments.  All recoveries in a matter must be turned over to the Trustee for deposit into the estate account.  No matter can be compromised or settled without the Trustee's consent.  The Trustee will be required to obtain approval of all settlements from the Bankruptcy Judge and all compensation to Special Counsel is subject to approval by the Bankruptcy Judge upon proper application.  Special Counsel is advised to familiarize himself with the rules and procedures of the Bankruptcy Court.   Maintaining hourly billing records is recommended for all matters.  Special Counsel will be expected to prepare and file all necessary applications and orders in matters in which Special Counsel is retained, and if necessary appear in court at the request of the Trustee to report the status of matters being handled by Special Counsel.   If you are not prepared to perform these services you should reconsider whether you wish to be retained by the Trustee.  The Trustee also requires all Special Counsel to have and use e-mail to ease communication with the Trustee.

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