Whatever it is, it's bad for both companies. TMM wrote off $751K and I think that it's more than that. Keep in mind that all court hearings were in Nevada and they had an East Coast attorney in these hearings (Chad Stover). In fact there were three TMM attorneys at the 4/14 hearing that I attended.
I think Panik's costs are close to that. You only require 400 billable hours at $250/hr to get to $100K. When the lawyers talk with each other you get the added gift of a $250 hour attorney consulting with his $175/hr coworker. It feels really special when you realize that you've paid $425 for that conversation.
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