July 27, 2019 / 12:18 AM / 22 days ago

Skadden under fire from U.S. trustee in Stearns bankruptcy for conflict

The U.S. Trustee has objected to mortgage lender Stearns Holdings LLC seeking court approval to retain Skadden Arps Slate Meagher & Flom as counsel for its bankruptcy, citing the potential for a conflict of interest for the law firm.

The government’s bankruptcy watchdog in a filing in U.S. Bankruptcy Court for the Southern District of New York on Thursday said it has concerns about Skadden working for Stearns in light of the law firm’s work for private equity firm Blackstone.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/32V6gPi

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