Trustee Objects To PPI Holdings' Tax Adviser Pick

Law360, New York (June 3, 2009, 12:00 AM EDT) -- A U.S. trustee has objected to PPI Holdings Inc.'s bid to retain Grant Thornton LLP as its tax adviser and auditor, arguing that the auto supplier's payments to the financial giant before entering bankruptcy could compromise the firm's neutrality.

On Wednesday, acting U.S. Trustee Roberta A. DeAngelis filed a formal protest with the U.S. Bankruptcy Court for the District of Delaware, saying that the debtor had not provided enough information to show that an actual conflict of interest did not exist.

“The U.S. trustee objects to...
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