In a new round of objections to Paul Hastings LLP's legal fee billings for Molycorp Inc.'s Ch. 11 bankruptcy, Oaktree Capital Management claims the law firm is $5 million over its limit for investigating the private equity investor's role in the case.

Oaktree’s filing echoes previous complaints and focuses on an agreement from last year that Oaktree says sets a $250,000 spending limit for Molycorp's official committee of unsecured creditors to investigate Oaktree's involvement in the company before and after bankruptcy.

Oaktree also recently appealed to the U.S. District Court for the District of Delaware after U.S. Bankruptcy Judge Christopher S. Sontchi declined to overturn a Molycorp noteholder group's decision to give Oaktree weaker shares of a new company formed by the sale of undeveloped mineral rights owned by the Mountain Pass mine. Oaktree and other parties maintained rights to a share of the business. Oaktree accuses the noteholders of stacking of the new company's board and ignoring the overall majority.

Molycorp, Inc., is represented by M. Blake Cleary and Edmon L. Morton of Young Conaway Stargatt & Taylor LLP and Paul D. Leake, Lisa Laukitis, Robert W. Hamilton, George R. Howard, Brad B. Erens and Joseph M. Tiller of Jones Day.

Molycorp Minerals LLC is represented by Matthew G. Summers, Leslie Heilman and Vincent J. Marriott III of Ballard Spahr.