Blockbuster Judge Blesses DIP, Tables Adviser Hiring

Law360, New York (October 27, 2010, 1:33 PM EDT) -- A federal judge allowed bankrupt Blockbuster Inc. on Wednesday to tap up to $125 million in debtor-in-possession financing but held off on approving the company's request to hire financial adviser Rothschild Inc. because of retention agreement provisions requiring the estate to pay Rothschild's legal fees.

Judge Burton R. Lifland told Rothschild's lawyer Richard Hahn of Debevoise & Plimpton LLP during a hearing in the U.S. Bankruptcy Court for the Southern District of New York that he is not willing to issue up-front approval for fees and...
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