Hedge Fund Wants Milbank Bounced From Chapter 11

Law360, New York (February 16, 2006, 12:00 AM EST) -- A hedge fund with a huge interest in Meridian Automotive System Inc.’s bankruptcy has accused Milbank Tweed Hadley & Co. of exploiting insider information in the case, demanding that the firm be ousted from the auto maker’s Chapter 11 proceedings.

On Monday, Stanfield Capital Partners Inc., a New York-based fund with $25 billion in assets under management, requested that Milbank Tweed be ejected from the Meridian case, citing the firm’s conflict of interest.

The request was filed in U.S. Bankruptcy Court in Delaware, as various creditor...
To view the full article, register now.