O'Sullivan Industries will pay approximately $16 million in fees and expenses to third parties in connection with their bankruptcy proceedings, according to the quarterly report filed Tuesday with the Securities and Exchange Commission.
The bills that have been mentioned in earlier Turner Report posts are far from the only ones, company officials indicated in the filing. For Lazard Freres, the company which provided financial advice, "O'Sullivan has paid, or will pay, Lazard a $1.8 million fee and a $375,000 financing fee.
Rothschild, which is advising the secured creditors, will receive a $750,000 financing fee, and the company which is advising the unsecured creditors will pick up a $450,000 financing fee, according to the documents.
"These fees are in addition to regular fees O'Sullivan has been accruing," the filing said.