Bankrupt Rotech Protests Equity Committee's Bifferato Hire

Law360, New York (June 05, 2013, 2:12 PM ET) -- Bankrupt Rotech Healthcare Inc. on Tuesday objected to its official equity committee's proposal to retain Bifferato LLC as Delaware counsel, saying the proposal should be contingent on the committee's ability to prove the company is solvent.

The company told a Delaware bankruptcy court that the proposal to retain Bifferato isn't reasonable because, although the equity committee has insisted that Rotech is worth at least $143 million and possibly $273 million in excess of their liabilities, that estimated value is in doubt.

"Here, the proposed terms are...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers