Rotech Equity Holders Lose Bid To Hire Moelis As Adviser

Law360, Wilmington (June 18, 2013, 4:34 PM EDT) -- The equity committee in the Rotech Healthcare Inc. Chapter 11 case lost a bid to hire Moelis & Co. LLC as its financial adviser Tuesday, when a Delaware bankruptcy judge said Moelis' fee was too expensive for a creditor not believed to be getting any recovery.

U.S. Bankruptcy Judge Peter J. Walsh said that Moelis' proposed fee of $125,000 per month, plus an additional transaction fee if a sale or restructuring provided a recovery for the committee, was not justified because the equity committee hadn't shown...
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