Ex-Radnor CEO Wants 3rd Circ. To Rethink Skadden Win
Law360, New York (December 14, 2017, 10:23 PM EST) -- The former CEO of bankrupt Radnor Holdings Corp. asked the Third Circuit on Thursday to reconsider its decision that the statute of limitations barred his suit alleging Skadden Arps Slate Meagher & Flom LLP hid a conflict of interest during the company's bankruptcy proceedings.
Michael Kennedy told the court that although Skadden had revealed some of its relationship with Tennenbaum Capital Partners LLC — a creditor that later bought Radnor's assets — during the proceedings, it didn't come out until much later that two Skadden partners had an ownership interest in Tennenbaum, meaning the statute of limitations had not yet run...
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