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MATTER OF AM. EXP. WAREHOUSING, LTD.

No. 149, Docket 75-5006.

525 F.2d 1012 (1975)

In the Matter of AMERICAN EXPRESS WAREHOUSING, LTD., Debtor.

United States Court of Appeals, Second Circuit.

Decided November 25, 1975.

Attorney(s) appearing for the Case

John J. Walsh, New York City (Jacquelin A. Swords, Cadwalader, Wickersham & Taft, New York City, on the brief), for debtor-appellant.

Charles L. Stewart, New York City (Richard E. Rieder, Rigdon H. Boykin, and Dunnington, Bartholow & Miller, New York City, Attys. pro se, on the brief), for appellees Dunnington, Bartholow & Miller and Scarburgh Co., Inc.

Before KAUFMAN, Chief Judge, and ANDERSON and MANSFIELD, Circuit Judges.

IRVING R. KAUFMAN, Chief Judge:

The high cost of modern bankruptcy administration has been a matter of concern to both creditors and courts.1 In 1974, almost one-quarter of an average bankrupt's estate was consumed by administrative expenses, and over one-third of this sum was expended on attorney's fees.2

Our decision in In re Sapphire Steamship Lines, Inc., 509 F.2d 1242

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