Trustee Says Dechert Has Conflict As Crunch Counsel

Law360, New York (June 15, 2009, 12:00 AM EDT) -- A fracas has erupted in the AGT Crunch Acquisition LLC bankruptcy, as the U.S. trustee overseeing the restructuring claims Dechert LLP is far too caught up in the debtor’s dealings to serve as counsel in the Chapter 11 proceeding.

On Monday, U.S. Trustee Diana G. Adams urged the U.S. Bankruptcy Court for the Southern District of New York to deny Crunch’s selection of Dechert as restructuring counsel because the firm is inherently conflicted, she said, having long represented the debtor and the affiliated lenders currently slated...
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