NPG Trustee Questions Blackstone Conflict of Interest

Law360, New York (February 19, 2010, 3:40 PM EST) -- The U.S. trustee overseeing botanical skin care company Natural Products Group LLC’s Chapter 11 proceedings has objected to its proposal to hire Blackstone Advisory Partners LP as a financial adviser because of Blackstone's refusal to disclose its investors’ connections to the estate.

Trustee Roberta DeAngelis filed an objection Thursday in U.S. Bankruptcy Court for the District of Delaware after Blackstone refused to disclose certain investors considered “parties of interest” in the bankruptcy case.

Blackstone Vice President of Compliance Robert Gentile said in his application that Blackstone...
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