Freedom Creditors Blast Houlihan Lokey Involvement

Law360, New York (October 7, 2009, 1:20 PM EDT) -- Freedom Communications Holdings Inc.’s unsecured creditors have lambasted Houlihan Lokey Howard & Zukin Capital Inc., claiming the investment banking firm should not be allowed to continue serving the debtor during a restructuring that has so far produced a skewed and costly Chapter 11 plan.

The official committee of unsecured creditors urged Judge Brendan Linehan Shannon of the U.S. Bankruptcy Court for the District of Delaware on Tuesday to reject the debtor’s retention of Houlihan Lokey as investment bankers for the Chapter 11 case, claiming a proposed...
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