Donaldson Lufkin & Jenrette Securities Corp. v. National Gypsum Co.

REAVLEY, Circuit Judge:

Donaldson Lufkin and Jenrette Securities Corp. (DLJ), retained by National Gypsum Company in its Chapter 11 bankruptcy reorganization, appeals the district court’s affir-mance of the bankruptcy court’s fee order reducing the final DLJ fee from $2,400,000 to $2,000,000. Because we read the bankruptcy court’s initial order to approve an agreed fee for DLJ, the court was required to follow § 328 instead of § 330 of the Bankruptcy Code. (11 U.S.C.) The fee order is reversed.

Background

National Gypsum Company as the debtor-in-possession recorded its agreement with DLJ for…