US Trustee Balks At Velti's Proposed Financial Adviser

Law360, Wilmington (January 07, 2014, 8:41 PM ET) -- The U.S. Trustee's Office on Tuesday took issue with the mobile marketer Velti Inc. bankruptcy estate's application to retain Deloitte Financial Advisory Services LLP, arguing bankruptcy rules prohibit it because it appears one of the firm's principals served as the debtor's chief restructuring officer in 2013.

In a motion before the Delaware bankruptcy court, U.S. Trustee Roberta A. DeAngelis contends that while the debtor states in a footnote in its court filings related to the proposed retention that Deloitte principal Scott Avila acted as CRO for...
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