Trustee Asks For Examiner In Granite Case

Law360, New York (February 5, 2007, 12:00 AM EST) -- The U.S. Trustee in Granite Broadcasting Corp.'s bankruptcy has asked the judge to appoint an examiner to look into a proposed equity deal with hedge fund Silver Point Finance LLC.

“The proposed plan provides substantial benefits to those very same insiders who not only negotiated the proposed plan, but negotiated provisions of that proposed plan that greatly inure to their personal benefit,” U.S. Trustee Diana G. Adams said in her motion.

Adams said the examiner should look into possible conflicts of interest and self-dealing involving Silver...
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