Trustee Wants Bankrupt NJ Hotel Owner's Auctioneer Tossed

Law360, New York (October 11, 2013, 1:51 PM EDT) -- The U.S. trustee overseeing Lafayette Yard Community Development Corp.'s Ch. 11 bankruptcy told a New Jersey federal judge that the proposed auctioneer who would run the non-profit hotel owner's sale process has a conflict of interest with Lafayette's debtor-in-possession lender.

U.S. Trustee Tracy Hope Davis urged U.S. Bankruptcy Judge Michael B. Kaplan to reject Lafayette Yard's application to retain auctioneer Sheldon Good & Co., saying DIP lender and investment firm Racebrook Capital Advisors LLC has the same owner, therefore creating an “adverse interest.” Racebrook could be...
To view the full article, register now.




Case Information

Case Title

Lafayette Yard Community Development Corporation

Case Number



New Jersey

Nature of Suit

Date Filed

September 23, 2013

Law Firms


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.