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The firm, however, collected $12 million in fees over the life of the deal.
Time Warner Cable resolved another feud about retransmission fees over the weekend.
(It made an additional $28.5 million in various fees over the years).
So why would large investors pay hedge funds billions of dollars in fees over the years for those returns?
Despite the rise in bankruptcy fees over the years, there was little or no public criticism or pushback until recently.
But he has earned well more than $150 million in development fees over the past eight years.
Accounts for his personal company show he made £6.4m in sponsorship, merchandising and appearance fees over the preceding 12 months.
New Yorkers have paid an estimated several million dollars in such fees over the past few years, he said.
South Carolina's state pension fund forked out nearly $1.2 bn in fees over the last five years to hedge funds.
PwC received £2m in audit fees over the critical six years of BHS's decline, plus £9m for "consultancy".
It claimed that there had been a real terms fall of 5% in fees over the past five years.
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