Blockbuster Shouldn't Pay Rothschild Bills: Trustee

Law360, New York (October 15, 2010, 1:28 PM EDT) -- The U.S. trustee overseeing Blockbuster Inc.'s bankruptcy wants Rothschild Inc. barred from serving as the video rental company's financial adviser because of provisions that would require Blockbuster to cover Rothschild's legal fees and indemnify third parties not approved by the court.

In a motion filed Wednesday in the U.S. Bankruptcy Court for the Southern District of New York, U.S. Trustee Tracy Hope Davis said the provisions in the Rothschild retention contract are “impermissible” and must be stricken before the court approves Blockbuster's retention of the firm....
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