Trustee Objects To Source Interlink's Financial Team

Law360, New York (May 19, 2009, 12:00 AM EDT) -- The U.S. trustee overseeing the prepackaged Chapter 11 proceedings of Source Interlink Cos. Inc. has objected to the magazine distribution giant's request to employ a financial adviser, arguing that the debtors have failed to explain why their proposed compensation to Moelis & Co. LLC is reasonable.

In an objection filed Tuesday in the U.S. Bankruptcy Court for the District of Delaware, acting U.S. Trustee Roberta A. DeAngelis said that the debtors' application to employ Moelis did not provide adequate details about why the firm should receive...
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