Examiner Bid Nixed For Now In Flowers Funds Ch. 11

Law360, New York (May 4, 2010, 1:58 PM EDT) -- A federal judge has preliminarily denied a bid to appoint an examiner in the Chapter 11 proceedings of a group of investment funds managed by J.C. Flowers & Co. LLC, following arguments against the move by both the lenders and the debtors.

In a filing Monday in the U.S. Bankruptcy Court for the District of Delaware, Judge Mary F. Walrath denied on a preliminary basis the U.S. trustee's motion to appoint an examiner to investigate a variety of actions taken by the debtors and their management....
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