Nixon Peabody OK'd As Adviser In Taylor-Wharton Ch. 11
Law360, Wilmington (January 12, 2016, 7:02 PM EST) -- Specialty tank-maker Taylor-Wharton International got a Delaware bankruptcy court go-ahead Tuesday to retain Nixon Peabody LLP as a personal injury and liability claim adviser, overcoming objections about needless Chapter 11 expense.
A committee of unsecured creditors and the U.S. Trustee's office had questioned the professional service retention, citing in part the automatic stay on third-party legal actions that accompanied Taylor-Wharton's bankruptcy filing.
The company, which has only one domestic factory operation, sought protection from creditors in November, listing $100 million to $500 million in debts and about the same range of assets. An auction of the company's CryoScience business is pending...
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