Judge Passes On Examiner, Taps Trustee For Fletcher Int.

Law360, New York (September 5, 2012, 9:53 PM EDT) -- A New York bankruptcy judge on Wednesday ordered the appointment of a Chapter 11 trustee in private equity firm Fletcher International Ltd.'s Chapter 11 case, rejecting a stakeholder's argument that an examiner, if anything, is more appropriate at this point.

U.S. Bankruptcy Judge Robert E. Gerber granted motions filed by the debtor and the U.S. trustee against the objection of Fletcher Asset Management Inc., which is a counterparty to a management agreement under which Fletcher International's assets are managed, saying the acrimonious case and extensive litigation...
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