Skadden, Togut Segal OK'd As McClatchy's Ch. 11 Counsel

Law360 (March 25, 2020, 8:51 PM EDT) -- A New York bankruptcy judge said Wednesday that Skadden Arps Slate Meagher & Flom and Togut Segal & Segal can serve as Chapter 11 counsel to newspaper chain the McClatchy Co. over objections that they were too closely tied to the company.

U.S. Bankruptcy Judge Michael Wiles overrode objections by U.S. Trustee William Harrington to McClatchy's motions to hire Skadden and Togut Segal, saying the latter could independently investigate a 2018 restructuring deal and that Skadden's initial failure to specifically disclose it offered opinions on related transactions was not disqualifying.

"It's not perfect under the circumstances, but I don't find it...

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